The Art of Managing the Economy…



The economic bills passed by the Parliament appear to have several purposes:


– Establish justice among private sector companies that have taken over public rights or activities, increase foreign borrowing opportunities

– Boost mining activities, driven by the thought that the underground riches are more valuable than the ones above the ground

– Erase Botaş’s debt and place in on the Treasury’s shoulders

– Re-regulate the Electricity Market

– Abolish fines and budget cuts of state university hospitals

– Cancel insurance premium debt and late payment fines for foreigners holding a residence permit under certain conditions, provide similar assistance to citizens in distress.

– Refund cuts from the wages of the members of public-sector trade unions

– Restructuring of the debt owed to TEDAŞ.


“How Do We Restore This Twisted Legislation?”


Apparently, these bills were enacted by the Parliament as a result of various pleadings. Some of the articles in these new laws are designed to address some ongoing problems while others are likely to create negative effects in the future. As a package, they look a “to do list before the elections”.


I really wonder, when the circumstances improve, who will restore the laws and regulations that have changed as a result of all these urgent measures? Since it is not possible to change the laws and regulations every other day, I think we will have to go through a process in which we will try to restore the harmony that we have lost due to deteriorating economic conditions.


Perhaps it will always be like this. We will enjoy a calm economy for a couple of years, and then we will restart making daily arrangements due to the problems we will experience again. This is how Argentinian economy has been managed for almost 100 years. So has been Brazil, for decades. Hungary has also recently adopted this volatile style of economic management. Therefore, I have doubts whether Turkey will be able to restore everything back to normal.