Turkish oligarchs lead…

In Uncategorized on October 21, 2020 at 13:33

This was published a few days ago. None of the oligarchs in authoritarian countries get as much public tender as Turkish ones do. They are squeezing the economy/ public funds…

Kalyon Construction, a leading Turkish construction company, received tax incentives of 9,449,995,833 lira in addition to winning a bid to build the tracks for a rail line worth 9,990,632,770 lira: these two figures, which are almost identical to the penny, seem to have a meaning beyond just showing favoritism for a commercial group close to the government. That’s because we are experiencing a “new political state” that cannot be explained by only favoritism, corruption or waste.

The Kalyon story was in the news last week, but almost one month earlier, there was a peculiar ceremony held. It was an opening ceremony for a new section of the North Marmara Highway and was held on September 19. On the giant screen overlooking the podium, there was President Recep Tayyip Erdoğan. In front of the screen were the owners of the Cengiz, Limak and Kalyon consortium, all in line on the podium. Erdoğan told the men to point themselves out when their names were called. Whoever heard his name took a step forward, raised his right arm with the palm facing forward, then took his hand to his heart and saluted the giant screen. Cemal Kalyoncu expressed his gratitude, on behalf of his partners as well, saying “All thanks to you, highest authority.”

Some 37 people who collected 200 million liras ($25.2 million) from nearly 12,000 people in six months, with the promise of giving high revenue in return with Turkey’s “national” alternative digital currency, were sued for fraud, according to a report by daily Hürriyet.

And then why some ask the Turkish lira continue to weaken? :


A missile was fired into the sky on Oct. 16 on Turkey’s Black Sea coast where the military was expected to test its Russian-made S-400 defence systems, according to local video obtained by Reuters.

The post Turkish oligarchs lead… appeared first on Erkan's Field Diary.

Vía Erkan’s Field Diary

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