Is it a political crisis or a systemic crisis? - ERDAL TANAS KARAGÖL

Is it a political crisis or a systemic crisis?

In previous years we saw that many structural problems, political issues and economic systems being open to influence from domestic and foreign effects brought crisis to the country's economy. The 2001 economic crisis was the clearest example of this.

Yet, at the start of the 2000s, the Turkish economy painted a different picture. The difference the AK Party government had from other governments was the reforms and improvements in the economy were easily accepted by the public. This support continued through all elections after the 2002 elections.

Therefore, fragility of the economy decreasing and success in economic indicators are due to this support. Political stability sustained economic stability, economic stability sustained political stability.

To remember,

Although AK Party was the leading party during the November 3, 2002 elections, Recep Tayyip Erdogan could not become prime minister because he was forbidden from involvement in politics. Despite experiencing a total political strangeness, Turkey did not let go of its economic targets.

AK Party was confronted with being closed down in 2008 despite garnering 50 percent of the votes in July 22, 2007. The government steadfastly continued its economic agenda despite the closure case being pushed against its neck like Damocles' sword.

On the other hand, the economic tsunami that hit the developed countries during the 2008 global economic crisis passed the Turkish economy without affecting it. As a matter of fact, despite the pressure to sign a standby agreement with the IMF when many EU countries were at the verge of bankruptcy, Turkey did not sign an agreement with the IMF.

Moreover, the Turkish economy passed its exams during the 2013 Gezi incidents. The statements made during these incidents were made in order to create the perception of an 'economic crisis.' Despite all the efforts, Turkey successfully weathered this crisis too.

The economic growth, exports and foreign investments coming in positive figures in 2014 brought the hopes of an 'economic crisis' to naught, despite the Central Bank increasing the January 2014 investment, employment and production interest rates and the arguments of an 'economic crisis' after the 17-25 December coup attempt.

The Turkish economy is steadily growing despite two general elections, terror issues, regional crises in Syria and Iraq, an influx of refugees, a slowdown in the global economy, and the downing of the Russian plane. In fact, reforms that decrease fragility and big projects have started to yield results.

This isn't all that has happened in the recent past. Turkey has continued to stand steadily despite all the negativity.


Therefore, the change of the party's chairmanship being announced as a 'political crisis' and then an 'economic crisis' is nothing but brokerage. The people choosing the president proved that there needed to be a change in the system. Therefore there is no administration gap that could cause an economic crisis.

Even rating companies that rated Turkey unjustly and with bias have understood that the Turkish economy is growing steadily. Furthermore, Standard and Poor's (S&P), a rating company that rates Turkey with BB+ (which means it isn't appropriate to invest in) has increased Turkey's note from 'negative' to 'stable.'

Therefore, those that rely on an economic crisis introducing the system crisis as a political crisis do not mean anything. It might be more beneficial if they sat down and discussed the necessity of changing the system.


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