Turkey-Economic Recovery

Economists warn Turkey's recovery needs more time

  • English
  • العربية
  • Español

Shotlist


Istanbul, Turkey - Dec 6, 2018 (CCTV - No access Chinese mainland)
1. Various of cityscape
2. Various of street, pedestrians
3. SOUNDBITE (Turkish) Muhammed Aydin, chef:
"There is no change in our wages but the prices of everything have gone up, such as utilities."
4. Various of food booth, pedestrians
5. SOUNDBITE (Turkish) Arda Karabulut, student:
"Turkey now imports more than it exports, so there is a large trade deficit."

FILE: Istanbul, Turkey - Date Unknown (CCTV - No access Chinese mainland)
6. Turkish national flag
7. Taksim Square, tram moving by

Istanbul, Turkey - Dec 6, 2018 (CCTV - No access Chinese mainland)
8. SOUNDBITE (English) Ozan Sakar, board member, Corporate Finance Services Ltd:
"Those things need to be tackled in the mid-to-long term in a much more structural way. And those structural reforms have been very slowly coming, to be honest. And I think we will need to see a strong reaction from the government here to tackle the root causes of how Turkish economy manufactures goods and how consumption works in this country. But that's going to take some time."

FILE: Istanbul, Turkey - Date Unknown (CCTV - No access Chinese mainland)
9. Various of people at bazaar
10. Jewelry store
11. Vehicles, pedestrians on bridge
12. Various of ships sailing across Bosphorus Strait

Storyline


Although the economic situation in Turkey has been recently improving, economists believe that the country's economy still faces many problems ahead and will take a long time to fully recover.

The Turkish lira plunged under the sanctions imposed by Washington on Turkey in August, with the measures doubling steel and aluminum tariffs. With other problems including high inflation and high current account deficits in the country, affecting the daily lives of the Turkish people.

According to the Turkish Statistical Institute, inflation fell in November and the lira was up more than 30 percent against U.S. dollar from August. Despite this, many Turks are still worried about commodity prices.

"There is no change in our wages but the prices of everything have gone up, such as utilities," said Istanbul chef Muhammed Aydin.

Arda Karabulut, a university student who majors in economics, expressed his concern at the country's trade deficit.

"Turkey now imports more than it exports, so there is a large trade deficit," said Karabulut.

Turkish economist Ozan Sakar, who is also a board member of Corporate Finance Services Ltd, said that the government has raised benchmark interest rates and lowered taxes on some commodities to stabilize prices and revive the economy, which have had some effect. However, he added that only through structural reform can Turkey's economy be revived in the long run.

"Those things need to be tackled in the mid-to-long term in a much more structural way. And those structural reforms have been very slowly coming, to be honest. And I think we will need to see a strong reaction from the government here to tackle the root causes of how Turkish economy manufactures goods and how consumption works in this country. But that's going to take some time," said Sakar.

DOWNLOAD
  • ID : 8097768
  • Dateline : Dec 6, 2018/File
  • Location : Istanbul,Turkey
  • Category : economy, business and finance
  • Duration : 1'41
  • Audio Language : Turkish/English/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2018-12-09 11:15
  • Last Modified : 2018-12-10 08:51:00
  • Version : 1
  • ID : 8097768
  • Dateline : أرشيف/6 ديسمبر 2018
  • Location : اسطنبول,تركيا
  • Category : economy, business and finance
  • Duration : 1'41
  • Audio Language : التركية/الإنجليزية/صوت الشرح
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2018-12-09 16:24
  • Last Modified : 2018-12-10 08:51:00
  • Version : 1
  • ID : 8097768
  • Dateline : 6 Dic. 2018/Archivo
  • Location : Estambul,Turquía
  • Category : economy, business and finance
  • Duration : 1'41
  • Audio Language : Turco/Inglés/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No acceso a la parte continental de China
  • Published : 2018-12-09 15:50
  • Last Modified : 2018-12-10 08:51:00
  • Version : 1

Turkey-Economic Recovery

Economists warn Turkey's recovery needs more time

Dateline : Dec 6, 2018/File

Location : Istanbul,Turkey

Duration : 1'41

  • English
  • العربية
  • Español


Istanbul, Turkey - Dec 6, 2018 (CCTV - No access Chinese mainland)
1. Various of cityscape
2. Various of street, pedestrians
3. SOUNDBITE (Turkish) Muhammed Aydin, chef:
"There is no change in our wages but the prices of everything have gone up, such as utilities."
4. Various of food booth, pedestrians
5. SOUNDBITE (Turkish) Arda Karabulut, student:
"Turkey now imports more than it exports, so there is a large trade deficit."

FILE: Istanbul, Turkey - Date Unknown (CCTV - No access Chinese mainland)
6. Turkish national flag
7. Taksim Square, tram moving by

Istanbul, Turkey - Dec 6, 2018 (CCTV - No access Chinese mainland)
8. SOUNDBITE (English) Ozan Sakar, board member, Corporate Finance Services Ltd:
"Those things need to be tackled in the mid-to-long term in a much more structural way. And those structural reforms have been very slowly coming, to be honest. And I think we will need to see a strong reaction from the government here to tackle the root causes of how Turkish economy manufactures goods and how consumption works in this country. But that's going to take some time."

FILE: Istanbul, Turkey - Date Unknown (CCTV - No access Chinese mainland)
9. Various of people at bazaar
10. Jewelry store
11. Vehicles, pedestrians on bridge
12. Various of ships sailing across Bosphorus Strait


Although the economic situation in Turkey has been recently improving, economists believe that the country's economy still faces many problems ahead and will take a long time to fully recover.

The Turkish lira plunged under the sanctions imposed by Washington on Turkey in August, with the measures doubling steel and aluminum tariffs. With other problems including high inflation and high current account deficits in the country, affecting the daily lives of the Turkish people.

According to the Turkish Statistical Institute, inflation fell in November and the lira was up more than 30 percent against U.S. dollar from August. Despite this, many Turks are still worried about commodity prices.

"There is no change in our wages but the prices of everything have gone up, such as utilities," said Istanbul chef Muhammed Aydin.

Arda Karabulut, a university student who majors in economics, expressed his concern at the country's trade deficit.

"Turkey now imports more than it exports, so there is a large trade deficit," said Karabulut.

Turkish economist Ozan Sakar, who is also a board member of Corporate Finance Services Ltd, said that the government has raised benchmark interest rates and lowered taxes on some commodities to stabilize prices and revive the economy, which have had some effect. However, he added that only through structural reform can Turkey's economy be revived in the long run.

"Those things need to be tackled in the mid-to-long term in a much more structural way. And those structural reforms have been very slowly coming, to be honest. And I think we will need to see a strong reaction from the government here to tackle the root causes of how Turkish economy manufactures goods and how consumption works in this country. But that's going to take some time," said Sakar.

ID : 8097768

Published : 2018-12-09 11:15

Last Modified : 2018-12-10 08:51:00

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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