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"Companies will consider departing the Turkish market or will reduce exposure to Turkish market. This is not a direction which serves the interests of Turkey," he was cited as saying.
The debts owed by the Turkish state to local medical equipment producers have reached Turkish lira 26bn (€3bn)​, according to the ​head​ of a trading group.
“The government has not made any payments to the companies over the past 16 months,” said Mustafa Dasci from the Medical Equipment Manufacturers’ Association.
2.5​ ​“Hiding its failures” has become “crucial” for Turkey’s Erdogan “autocracy” says Carnegie analyst
Hiding its failures has become “crucial” for the Erdogan administration, according to Marc Pierini, a visiting scholar at the Carnegie Europe think tank.
In an analytical piece first ​published​ in French in Le Monde earlier this week, Pierini, who focuses on developments in the Middle East and Turkey from a European perspective, wrote: “After years of patient dismantlement of its rule-of-law architecture, Turkey is now governed by autocracy: free media have been eliminated, civil society suppressed, the judiciary politicized, and adherents of the Gulen movement (the AKP’s political ally between 2002 and 2013) purged.
“Yet, President Recep Tayyip Erdogan does not approach the 2023 Republic centennial with a successful record. The economy is on the brink of an abyss, and opinion polls illustrate serious difficulties for the alliance between the Justice and Development Party (AKP) and the Nationalist Action Party (MHP). For Ankara, hiding these failures is therefore crucial.”
To divert attention from the failures, argues Pierini, Erdogan has seized on historical Turkish claims to territory in the eastern Meditteranean where there are thought to be gas reserves.
He contends: “In this bleak picture, the theme of maritime borders appeared as the ideal tool to summon up national ardor: the litigation with Cyprus and Greece is old and multifaceted; recent gas discoveries off the coasts of Egypt, Israel, and Cyprus illustrate the injustice done to Turkey; and the EastMed Gas Forum was just created between Cyprus, Egypt, Greece, Israel, Italy, Jordan, and Palestine to consider—without Turkey—a concerted exploitation of the resources and the construction of an underwater pipeline to Southern Europe.
Simple reality​. The wave of nationalist fervour has, says Pierini, ended up hiding a simple reality, namely that today’s Turkey is diplomatically isolated, not just from the EU but also from the US, the Arab League, and Israel.
2.6​ ​Will hot money come to save Erdogan?
Turkish banking regulator BDDK has relaxed local banks’ foreign-exchange swap, forward and option transaction limits with foreign entities to 10% of equity from 1%, it ​said​ on September 25.
London rates all​. On September 25, BloombergHT reported that Turkish lira interest rates in London fell following the BDDK’s move.
The move followed the surprise 200bp policy rate hike on September 24, while
9​ TURKEY Country Report​ October 2020 ​ ​www.intellinews.com