Regarding my country, Turkey, it’s undeniable that the country continues to develop economically. Inflation is declining, although it remains very high. However, wages are still low compared to the cost of living, and economic governance continues to lack strict oversight and effective regulation. Tax evasion remains a significant problem, with some individuals and businesses continuing to avoid their tax obligations.
Despite economic growth, living standards are not improving as much as they should. Turkey also has one of the lowest numbers of doctors per capita among OECD countries, which highlights some of the persistent weaknesses in its healthcare system.
Another major issue is our dependence on foreign energy imports, which contributes significantly to the country’s trade deficit. Oil and gas imports place a considerable burden on our economy and make us vulnerable to fluctuations in international energy prices.
On the other hand, I believe Turkey’s geopolitical position is gradually improving. The Kurdish issue seems to be entering a less confrontational phase, although it is far from being fully resolved. Furthermore, despite regional tensions, Turkey has so far remained relatively insulated from the direct conflicts affecting several Middle Eastern countries, including Israel and some Gulf states, such as Saudi Arabia, Iran. This relative stability could become an important economic and strategic advantage in the coming years.
Overall, I have mixed feelings about Turkey’s economic future. The country has enormous potential, a diversified economy, and a strategic geographical position. However, poor economic governance, structural imbalances, and the everyday financial struggles of ordinary people still prevent a large part of the population from truly benefiting from economic growth.
I’m therefore cautiously optimistic about Turkey’s long-term potential, but much more skeptical about how its economy is currently being managed.
What about you? What do you think of these economic forecasts, and how do you see the economic and financial future of your country? 🙂
Edit : RIP Romania 😢