Dear readers, I have been in business for more than 35 years. I have learned quite a lot from my experiences in different organisations. Today, I would like to share with you one experience that made an impression on me for life.

As industrial production figures hit bottom record-low levels recorded since 2018, unemployment rate rises again due to a series of unfortunate developments, which are: - Sharp decline in export orders and instable domestic demand - Rising costs and layoffs due to wage increases . .

This week marks two important dates: the updating of Turkey's credit rating by Moody's and the meeting of Turkish Central Bank Governor with investors abroad, in which Minister Şimşek decided not to attend at the last minute. These are important details of the agenda, but there are other important developments as well.

Last week Turkey’s inflation rate was released and it turned out to be higher than last year’s. However, the private banks and the media keep backing the economic team since they are afraid that the previous team might return to office.

Inflation rate is finally released, and the salary and wage hikes along with it. The raise for public employees is set at nearly 50%, and for retirees at nearly 40%.

As the first trading day of 2024 begins, let us take a quick look at the Top ten global risks 2024: Rising armed conflicts Diplomatic tensions Fight against inflation and interest rates .

It is often thought that people make spending or investing mistakes because they lack financial literacy. I happen to have different ideas about this particular matter. Every spending decision made based on the economic rationale must transform into value. By value, I mean monetary return or any contribution to the society. But the priority is, of course, should be helping increase welfare.

Last night, an investor phoned me quite late to ask me some questions. The first question was, "I heard that credit card instalment programmes are going to be terminated. Could this be considered a positive thing?" I told him that it was not good news for Turkish people who hardly make ends meet, but the Minister of Treasury and Finance fancies itself a revolutionary like the late Kemal Derviş, and that’s why the government is trying to put an end to certain practices.

As parents, we can only try to empathise with mothers and fathers who have recently lost their sons to terror attacks in northern Iraq. But we would never be able to comprehend the magnitude of the pain they feel. No form of expression would suffice to show our gratitude to those who gave their lives outside our borders to protect us and our homeland.

My expectation from the Central Bank is to show that it is aware of what is happening to the economy, not to make premature comments, to tell the things that are going well as they are, without exaggeration, in short, to show that it knows what it is doing. I just hope that the communication accidents committed by Chair Erkan in order to appear sympathetic to the public will not occur again.

My dear readers, the laws of the universe do not only apply to matter. They also apply to human behaviour. The more positive the energy you send out, you are more likely to get positive energy in return.

Military conflicts, financial bottlenecks, inflation and diplomatic tensions… These will be the things we will remember as 2023 comes to an end. However, these problems will not suddenly disappear in 2024. People keep asking me, "When will crises end?". And I say, "They won't. Just get used to it."

Dear friends, I frequently give conferences to some European organizations that were established after Louis XIV's "quality production through private companies" campaign and have delivered proper service for centuries since then.

Below is the article I had written on the 19th of December last year in exactly the same words used originally.

There is not much to say about the recently released inflation rates. Along with to the annual CPI of around 62%, restaurant and hotel rates, healthcare and education prices have increased by at least 80%. With the gas companies re-starting to bill citizens for energy spending again, overall household spending rose by more than 11% in November.