Turkey's Robust Economy: A Comprehensive Analysis
The state of Turkey's economy is often the subject of much discussion, with some emphasizing its strength while others highlight its weaknesses. Despite numerous economic challenges, Turkey has managed to maintain a relatively strong economy, characterized by a stable currency, national airline services, and military capabilities that support its economic prosperity. This article delves into what makes Turkey's economy strong and how it has managed to navigate through global challenges.
The Strong Underpinning of Turkey's Economy
Turkey's economy is remarkably resilient, especially considering the surrounding environment. Despite regional conflicts, such as those in Syria, Iraq, and Georgia over the past few decades, Turkey has maintained a robust economic stance. This resilience is evident from the country's minimal collapse despite numerous economic missteps in the recent past.
The minimum monthly wage of about 6,741 Turkish Liras (TL) equates to approximately 370 USD as of September 3, 2022. Remarkably, nearly 44% of the population live on this wage, indicating the necessity for a strong and stable economic environment. This stability is crucial, given that millions of potential refugees are protected within the country, preventing another "immigrant wave."
Global Competitiveness and Military Strength
Turkey's success in international conflicts, such as direct engagements in Syria and Libya, and an indirect conflict in Karabakh, demonstrates its military and financial capabilities. The country has managed to pull off these significant feats amidst the global pandemic, showcasing its strategic position and financial might.
Furthermore, Turkey's military presence and troops around the world are noteworthy. With more military bases and soldiers outside its borders than any other country except the United States, Turkey's economic strength is directly linked to its geopolitical influence and military power. A strong industrial financial base is essential for sustaining such a robust military presence.
Economic Policies and Social Benefits
Turkey's economic resilience is not just about military might; it also lies in its ability to provide critical social services. During the COVID-19 crisis, the national airline played a crucial role in ferrying thousands of Turkish citizens back to their homeland. Additionally, the Health Ministry utilized small business jets as ambulances to transport critically injured or sick individuals, saving countless lives. These actions highlight the commitment to public welfare, which is a key aspect of a strong economy.
The country has also shown its resolve in the face of US financial attacks. The deteriorating relations with the US after the 2016 coup attempt, coupled with US support for the PKK, have put Turkey under significant pressure. However, the country has managed to resist these attacks, challenging the global perception that the US is the sole superpower.
Conclusion
In conclusion, Turkey's economy is robust and resilient. It has managed to maintain stability despite regional conflicts and international challenges. This strength is underpinned by a combination of strategic military capabilities, economic policies, and social welfare programs. As the world continues to face global crises, Turkey's ability to navigate through these challenges with resilience and determination is a testament to its economic resilience.