{"id":11363,"date":"2012-02-08T09:15:47","date_gmt":"2012-02-08T07:15:47","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=11363"},"modified":"2012-02-08T09:16:00","modified_gmt":"2012-02-08T07:16:00","slug":"dis-ticaret-enflasyon-ve-buyume-erken-bir-degerlendirme","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/dis-ticaret-enflasyon-ve-buyume-erken-bir-degerlendirme\/","title":{"rendered":"D\u0131\u015f Ticaret, Enflasyon ve B\u00fcy\u00fcme: Erken Bir De\u011ferlendirme"},"content":{"rendered":"<p>Son bir hafta i\u00e7inde a\u00e7\u0131klanan \u00f6nemli verileri de\u011ferlendirece\u011fim bug\u00fcn. \u00d6nce ge\u00e7en sal\u0131 g\u00fcn\u00fc a\u00e7\u0131klanan d\u0131\u015f ticaret verileri ile ba\u015fl\u0131yorum. Mevsim ve takvim etkisinden ar\u0131nd\u0131r\u0131lm\u0131\u015f verileri kullan\u0131yorum. Ayl\u0131k veriler yerine her ay i\u00e7in o ay\u0131n ve \u00f6nceki iki ay\u0131n toplam\u0131ndan olu\u015fan ve dolay\u0131s\u0131yla daha az oynakl\u0131k g\u00f6steren verileri ele al\u0131yorum.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2747313326\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u0130hracat ve ithalat<\/p>\n<p>Grafik 1, 2007&#8217;nin Ocak ay\u0131ndan bu yana \u00fc\u00e7er ayl\u0131k toplamlar halinde ihracat\u0131n, Grafik 2 ise ithalat\u0131n geli\u015fimini g\u00f6steriyorlar. \u0130thalat\u0131 ve ihracat\u0131, k\u00fcresel krizden \u00f6nce ula\u015ft\u0131klar\u0131 en y\u00fcksek de\u011fer 100&#8217;e e\u015fit olacak \u015fekilde yeniden d\u00fczenledim. B\u00f6ylelikle krizden bu yana ne kadar yol ald\u0131\u011f\u0131m\u0131z daha rahat saptanabiliyor.<\/p>\n<p>2011 sonu itibariyle (mevsim ve takvim etkisinden ar\u0131nd\u0131r\u0131lm\u0131\u015f) \u00fc\u00e7 ayl\u0131k toplam ihracat\u0131m\u0131z hala k\u00fcresel krizden \u00f6nce 2001&#8217;in Eyl\u00fcl ay\u0131nda ula\u015ft\u0131\u011f\u0131 en y\u00fckse de\u011ferin alt\u0131nda. Ayr\u0131ca ihracatta May\u0131s 2009&#8217;dan sonra nerdeyse kesintisiz olarak s\u00fcren art\u0131\u015f e\u011filiminin Eyl\u00fcl 2011&#8217;de durdu\u011fu g\u00f6zleniyor. Geride b\u0131rakt\u0131\u011f\u0131m\u0131z y\u0131l\u0131n son d\u00f6rt ay\u0131nda bir miktar d\u00fc\u015f\u00fc\u015f ger\u00e7ekle\u015fmi\u015f (Grafik 1).<\/p>\n<p>\u00dc\u00e7 ayl\u0131k toplam ithalat\u0131n k\u00fcresel krizden \u00f6nce en y\u00fcksek de\u011fere ula\u015ft\u0131\u011f\u0131 ay ise 2008&#8217;in A\u011fustos ay\u0131. Temel olarak \u00fcretimdeki d\u00fc\u015f\u00fc\u015fe ba\u011fl\u0131 olarak Nisan 2009&#8217;a kadar ithalat da h\u0131zla d\u00fc\u015f\u00fcyor. \u0130thalattaki d\u00fc\u015f\u00fc\u015f ihracattaki d\u00fc\u015f\u00fc\u015ften biraz daha fazla. Bu tarihten sonra ithalat da kesintisiz diyebilece\u011fim bir bi\u00e7imde art\u0131yor. Bu art\u0131\u015f Temmuz 2011&#8217;e kadar s\u00fcr\u00fcyor. Temmuz ay\u0131nda ula\u015f\u0131lan \u00fc\u00e7 ayl\u0131k ithalat de\u011feri krizden \u00f6nceki en y\u00fcksek de\u011ferden daha y\u00fcksek. Temmuzdan sonra ise ithalatta da bir azalma g\u00f6zleniyor. Bu azalma e\u011filimi ihracattakine k\u0131yasla daha belirgin (Grafik 2).<\/p>\n<p>\u0130hracat\u0131n bundan sonra nas\u0131l \u015fekillenece\u011fi a\u00e7\u0131k ki iki temel unsura ba\u011fl\u0131. Bir; ihracat\u0131m\u0131z\u0131n yar\u0131ya yak\u0131n bir k\u0131sm\u0131n\u0131 ger\u00e7ekle\u015ftirdi\u011fimiz Avrupa Birli\u011fi&#8217;nin (AB&#8217;nin) b\u00fcy\u00fcme oran\u0131na. \u0130ki; liran\u0131n euro ve dolar kar\u015f\u0131s\u0131nda alaca\u011f\u0131 de\u011fere. \u0130lk belirleyici unsur ihracat\u0131m\u0131z\u0131n aleyhine \u00e7al\u0131\u015facak. IMF 2012&#8217;de AB i\u00e7in \u00f6ng\u00f6rd\u00fc\u011f\u00fc b\u00fcy\u00fcme oranlar\u0131n\u0131 a\u015fa\u011f\u0131ya do\u011fru g\u00fcncelledi: Y\u00fczde 0.1. Bu de\u011fer, 2011 Eyl\u00fcl ay\u0131nda yap\u0131lan tahmine g\u00f6re 1.5 puan daha d\u00fc\u015f\u00fck.<\/p>\n<p>\u0130kinci belirleyici unsur olan d\u00f6viz kuru hakk\u0131nda konu\u015fmak ise zor. Bir \u00f6nceki yaz\u0131mda tart\u0131\u015ft\u0131m; ocak ay\u0131nda risk alma i\u015ftah\u0131nda \u00f6nemli bir art\u0131\u015f ger\u00e7ekle\u015fti. Bu art\u0131\u015f\u0131n iki nedeni var. Birincisi, ABD Merkez Bankas\u0131 (FED) k\u0131sa vadeli politika faizini en az\u0131ndan 2014&#8217;e kadar sabit tutaca\u011f\u0131n\u0131 a\u00e7\u0131klad\u0131. Ek olarak, FED&#8217;in \u00fc\u00e7\u00fcnc\u00fc bir parasal geni\u015flemeye gidebilece\u011fi beklentisi var. Di\u011fer yandan, Avrupa Merkez Bankas\u0131 (ECB) 2011&#8217;in son ay\u0131nda bir dizi karar ald\u0131. Politika faizini d\u00fc\u015f\u00fcrd\u00fc, zorunlu kar\u015f\u0131l\u0131k oranlar\u0131n\u0131 indirdi ve 489 milyar euro tutar\u0131nda bankalara \u00fc\u00e7 y\u0131l vadeli fon aktard\u0131. \u0130zleyen g\u00fcnlerde risk alma i\u015ftah\u0131n\u0131n artmas\u0131yla lira da de\u011ferlendi. Bankalara benzer bir bor\u00e7lanma olana\u011f\u0131 bir de 29 \u015eubat&#8217;ta tan\u0131nacak.<\/p>\n<p>Bu havan\u0131n ne kadar s\u00fcrece\u011fini bilmiyoruz. Mesela \u015fu s\u0131ralar Yunanistan&#8217;a ba\u011fl\u0131 bir miktar gerginlik var. Bu ge\u00e7se bile bir ba\u015fka \u00fclkenin sorunlar\u0131n\u0131n \u00f6n plana \u00e7\u0131kmas\u0131 yak\u0131nd\u0131r. Dolay\u0131s\u0131yla, liran\u0131n alabilece\u011fi de\u011fer ve d\u00f6viz kurunun ihracata olas\u0131 etkisi hakk\u0131nda de\u011ferlendirme yapmak olduk\u00e7a g\u00fc\u00e7. Bu g\u00fc\u00e7l\u00fc\u011fe ra\u011fmen, 2011 i\u00e7inde liran\u0131n \u00f6nemli \u00f6l\u00e7\u00fcde de\u011fer yitirdi\u011fini dikkate alarak,\u00a0 bu etkinin olumsuz y\u00f6nde olmama olas\u0131l\u0131\u011f\u0131n\u0131n daha y\u00fcksek oldu\u011funu, belirtebilirim \u00f6te yandan.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-854063660\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u0130thalat\u0131n bundan sonra nas\u0131l \u015fekillenece\u011fini ise as\u0131l olarak b\u00fcy\u00fcme oran\u0131m\u0131z belirleyecek. Bu kadar belirleyici olmasa bile, bir di\u011fer \u00f6nemli unsur enerji fiyatlar\u0131ndaki olas\u0131 geli\u015fmeler. \u0130hracat\u0131m\u0131z\u0131n ithal girdiye giderek daha fazla ba\u011f\u0131ml\u0131 hale gelmesiyle ihracat\u0131m\u0131z\u0131n nas\u0131l \u015fekillenece\u011fi de \u00f6nemli. \u0130hracat\u0131 yukar\u0131da tart\u0131\u015ft\u0131m. Enerji fiyatlar\u0131 ayr\u0131 bir de\u011ferlendirme konusu. B\u00fcy\u00fcme oran\u0131na ili\u015fkin de\u011ferlendirmelerim ise a\u015fa\u011f\u0131da yer al\u0131yor. Sonu\u00e7ta, enerji fiyatlar\u0131nda bir de\u011fi\u015fiklik olmazsa, ithalatta azalma beklemek ger\u00e7ek\u00e7i olacak.<\/p>\n<p>Enflasyon<\/p>\n<p>2012 sonunda y\u0131ll\u0131k enflasyon y\u00fczde 10.4 olarak ger\u00e7ekle\u015fmi\u015fti. Ocak ay\u0131nda k\u00fc\u00e7\u00fck bir art\u0131\u015fla y\u00fczde 10.6 oldu. Benzer s\u0131n\u0131rl\u0131 art\u0131\u015flar H ve I temel enflasyon g\u00f6stergelerinde de g\u00f6zlendi. Y\u0131ll\u0131k enflasyon, H g\u00f6stergesine g\u00f6re 0.2 puan art\u0131\u015fla y\u00fczde 8.8&#8217;e, I g\u00f6stergesine g\u00f6re ise 0.3 puanl\u0131k art\u0131\u015fla y\u00fczde 8.4&#8217;e y\u00fckseldi. Merkez Bankas\u0131 y\u0131ll\u0131k enflasyonda \u00f6zellikle y\u0131l\u0131n son \u00e7eyre\u011finde belirgin bir azalma olmas\u0131n\u0131 bekliyor. Y\u0131lsonu i\u00e7in tahmin aral\u0131\u011f\u0131n\u0131n orta noktas\u0131 y\u00fczde 6.5. Peki, y\u00fczde 5 hedefinin \u00fczerindeki bu tahmin ger\u00e7ekle\u015fir mi?<\/p>\n<p>Ger\u00e7ekle\u015fme olas\u0131l\u0131\u011f\u0131 var. Birincisi, b\u00fcy\u00fcme oran\u0131nda ve dolay\u0131s\u0131yla i\u00e7 talebin art\u0131\u015f h\u0131z\u0131nda 2011&#8217;e k\u0131yasla \u00f6nemli bir yava\u015flama bekleniyor. Resmi 2012 b\u00fcy\u00fcme tahmini bile 2011&#8217;de ger\u00e7ekle\u015fmesi beklenen b\u00fcy\u00fcme oran\u0131n\u0131n yar\u0131s\u0131 kadar: Y\u00fczde 4. Di\u011fer b\u00fcy\u00fcme tahminleri ise daha d\u00fc\u015f\u00fck. Bu tahminlerin en y\u00fckse\u011finin ger\u00e7ekle\u015fmesi halinde bile, i\u00e7 talepten enflasyona (2011&#8217;e k\u0131yasla) daha az bask\u0131 olacak. A\u00e7\u0131k ki daha d\u00fc\u015f\u00fck b\u00fcy\u00fcme oranlar\u0131nda bu bask\u0131 daha da azalacak.<\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1400064659\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"1818807385\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>S\u00fcrpriz vergi art\u0131\u015flar\u0131 ve zamlar olmad\u0131k\u00e7a, bu durumda, enflasyon dinami\u011fini d\u00f6viz kurundaki ve yabanc\u0131 para cinsinden ithal fiyatlar\u0131ndaki geli\u015fmeler belirleyecek. Az \u00f6nce belirtti\u011fim gibi, 2012&#8217;nin ba\u015f\u0131ndan bu yana d\u00f6viz kurunun enflasyona olumlu katk\u0131 yapaca\u011f\u0131 bir hava esiyor. Ancak bu havan\u0131n ne kadar s\u00fcrece\u011fi olduk\u00e7a belirsiz. Yine de enerji fiyatlar\u0131nda de\u011fi\u015fiklik olmazsa ve finansal piyasalardaki risk alma i\u015ftah\u0131 uzun s\u00fcreli olarak bozulmazsa, Merkez Bankas\u0131&#8217;n\u0131n enflasyon tahminin tutabilece\u011fini belirtmek m\u00fcmk\u00fcn.<\/p>\n<p>B\u00fcy\u00fcme<\/p>\n<p>2011&#8217;in Aral\u0131k ay\u0131na ait sanayi \u00fcretim verileri bu sat\u0131rlar\u0131n yaz\u0131ld\u0131\u011f\u0131 saatten yakla\u015f\u0131k 24 saat sonra belli olacak. Geride b\u0131rakt\u0131\u011f\u0131m\u0131z y\u0131l\u0131n son \u00e7eyre\u011fine ait gayri safi yurti\u00e7i has\u0131la (GSYH) verilerini ise nisan ay\u0131n ba\u015f\u0131nda \u00f6\u011frenebilece\u011fiz. 2011 GSYH verileri art\u0131k ilgin\u00e7 de\u011fil. Hemn herkes 2011&#8217;deki b\u00fcy\u00fcme oran\u0131n\u0131n y\u00fczde 8 civar\u0131nda olaca\u011f\u0131nda hemfikir. Oysa bu y\u0131l\u0131n b\u00fcy\u00fcme oran\u0131n\u0131n ne olaca\u011f\u0131 hakk\u0131nda olduk\u00e7a geni\u015f bir aral\u0131\u011fa yay\u0131lan \u00f6ng\u00f6r\u00fcler var. Resmi tahmin ise y\u00fczde 4. Daha \u00f6nce verdi\u011fim \u00f6ng\u00f6r\u00fcm hat\u0131rlarsan\u0131z y\u00fcze 1-3 aras\u0131nda idi. Uluslararas\u0131 kurumlar\u0131n ve analistlerin \u00f6ng\u00f6r\u00fcleri y\u00fczde 0 ile y\u00fczde 5 aras\u0131nda de\u011fi\u015fiyor.<\/p>\n<p>Bu geni\u015f \u00f6ng\u00f6r\u00fc aral\u0131\u011f\u0131 hi\u00e7 \u015f\u00fcphesiz belirsizli\u011fin \u00e7ok y\u00fcksek oldu\u011funu g\u00f6steriyor. Di\u011ferlerine k\u0131yasla daha d\u00fc\u015f\u00fck b\u00fcy\u00fcme \u00f6ng\u00f6r\u00fclerinin temel nedeni, T\u00fcrkiye&#8217;ye y\u00f6nelik uluslararas\u0131 fon ak\u0131mlar\u0131n\u0131n 2012&#8217;de belirgin bi\u00e7imde azalmas\u0131 olas\u0131l\u0131\u011f\u0131. Bunun arkas\u0131nda ise Avrupa&#8217;daki bankalar\u0131n bilan\u00e7olar\u0131n\u0131 keskin bi\u00e7imde daraltmalar\u0131 olas\u0131l\u0131\u011f\u0131 yat\u0131yor. Son yaz\u0131mda belirtmi\u015ftim ama \u00f6nemli; tekrarlamakta zarar yok:<\/p>\n<p>ECB&#8217;nin kararlar\u0131ndan \u00f6nce Avrupa&#8217;daki bankalar temelde \u00fc\u00e7 g\u00fc\u00e7l\u00fckle kar\u015f\u0131 kar\u015f\u0131ya idiler: Birincisi, kendi \u00e7\u0131kard\u0131klar\u0131 tahvillerin geri \u00f6demesini yapmalar\u0131n\u0131 sa\u011flayacak miktarda yeniden tahvil ihra\u00e7 etmekte ve dolay\u0131s\u0131yla fon bulmakta May\u0131s 2011&#8217;den beri zorlan\u0131yorlard\u0131. \u0130kincisi, sorunlu Avrupal\u0131 \u00fclkelerin devlet tahvillerinin de\u011ferlerinin d\u00fc\u015fmesi bu tahvilleri tutan bankalar\u0131n bilan\u00e7osunu olumsuz y\u00f6nde etkiliyordu. \u00dc\u00e7\u00fcnc\u00fcs\u00fc, Avrupa Bankac\u0131l\u0131k Otoritesi bankalar\u0131n yakla\u015f\u0131k 120 milyar avro sermaye a\u00e7\u0131\u011f\u0131 oldu\u011funu saptad\u0131 ve bankalar\u0131n (sermaye yeterlik oranlar\u0131n\u0131 sa\u011flamak \u00fczere) bu a\u00e7\u0131klar\u0131n\u0131 Haziran 2012 sonuna kadar kapatmalar\u0131n\u0131 istedi. Otorite&#8217;nin taze sermaye bulmay\u0131 \u015fart ko\u015fmams\u0131, bankalara isterlerse bilan\u00e7olar\u0131n\u0131 k\u00fc\u00e7\u00fclterek de sermaye yeterlik oran\u0131n\u0131 sa\u011flayabilmelerine izin vermek anlam\u0131na geliyor. Ger\u00e7i, &#8216;bankalar\u0131n bilan\u00e7olar\u0131n\u0131 k\u00fc\u00e7\u00fcltmemeleri i\u00e7in her \u015fey yap\u0131lacakt\u0131r&#8217; tarz\u0131nda bir retorik de var ama bankalar\u0131n a\u00e7t\u0131klar\u0131 kredileri keskin bir bi\u00e7imde azaltacaklar\u0131 beklentisi de vard\u0131.<\/p>\n<p>Bu olas\u0131l\u0131k, yukar\u0131da \u00f6zetledi\u011fim ECB kararlar\u0131n\u0131n al\u0131nd\u0131\u011f\u0131 Aral\u0131k 2011&#8217;e k\u0131yasla daha az ama yine de y\u00fcksek bir olas\u0131l\u0131k. Bu olas\u0131l\u0131\u011f\u0131 azaltacak her geli\u015fme T\u00fcrkiye&#8217;nin 2012 b\u00fcy\u00fcmesi a\u00e7\u0131s\u0131ndan olumlu olacak. Yukar\u0131da tart\u0131\u015ft\u0131\u011f\u0131m gibi ihracattan b\u00fcy\u00fcmeye olumlu bir etki beklememek gerekiyor. \u00d6te yandan, bir yandan Bankac\u0131l\u0131k D\u00fczenleme ve Denetleme Kurumu&#8217;nun Haziran 2011&#8217;de ald\u0131\u011f\u0131 kararlar, di\u011fer yandan Merkez Bankas\u0131&#8217;n\u0131n k\u0131sa vadeli faizleri olduk\u00e7a oynak bir hale getirmesi ve dolay\u0131s\u0131yla k\u0131sa vadeli bor\u00e7lanma maliyetinin belirsizli\u011fini art\u0131rmas\u0131 kredi piyasas\u0131n\u0131 etkiledi. Ayr\u0131ca, piyasa faizlerinde belirgin bir y\u00fckseli\u015f ger\u00e7ekle\u015fti.\u00a0 2011&#8217;in son \u00e7eyre\u011finde Avrupa&#8217;daki durumun k\u00f6t\u00fcle\u015fmesi ve risk alma i\u015ftah\u0131n\u0131n azalmas\u0131 da kredi piyasas\u0131na ayn\u0131 y\u00f6nde etkide bulundu. Bu nedenlerle kredi arz\u0131 art\u0131\u015f h\u0131z\u0131nda son aylarda \u00f6nemli bir azalma var. Bu geli\u015fme, en az\u0131ndan y\u0131l\u0131n ilk yar\u0131s\u0131nda i\u00e7 talebin art\u0131\u015f h\u0131z\u0131n\u0131 azalt\u0131c\u0131 y\u00f6nde etki yapacak.<\/p>\n<p>Dikkat ederseniz 2012 b\u00fcy\u00fcme oran\u0131n\u0131 belirleyecek \u00fc\u00e7 \u00f6nemli unsura de\u011findim. Bunlardan son ikisi (ihracat ve kredi arz\u0131), risk alma i\u015ftah\u0131 azalmasa da, beklenen geli\u015fmeler ve 2011&#8217;e k\u0131yasla daha d\u00fc\u015f\u00fck bir b\u00fcy\u00fcme h\u0131z\u0131n\u0131n beklenmesinin -mesela y\u00fczde 5- arkas\u0131ndaki temel nedenleri olu\u015fturuyorlar. B\u00fcy\u00fcme oran\u0131n\u0131n y\u00fczde 5 d\u00fczeyinden y\u00fczde 0&#8217;a do\u011fru ne \u00f6l\u00e7\u00fcde y\u00f6nlenece\u011fini ise ilk unsur, yani risk alma i\u015ftah\u0131 belirleyecek. Az \u00f6nce belirtti\u011fim gibi bu a\u00e7\u0131dan Ocak ay\u0131 olumlu ge\u00e7ti. Ama bunun s\u00fcrd\u00fcr\u00fclebilirli\u011finin hi\u00e7 garantisi yok.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Son bir hafta i\u00e7inde a\u00e7\u0131klanan \u00f6nemli verileri de\u011ferlendirece\u011fim bug\u00fcn. \u00d6nce ge\u00e7en sal\u0131 g\u00fcn\u00fc a\u00e7\u0131klanan d\u0131\u015f ticaret verileri ile ba\u015fl\u0131yorum. Mevsim ve takvim etkisinden ar\u0131nd\u0131r\u0131lm\u0131\u015f verileri&hellip;<\/p>\n","protected":false},"author":16,"featured_media":894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/11363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=11363"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/11363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/894"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=11363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=11363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=11363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}