{"id":12793,"date":"2012-03-13T14:33:19","date_gmt":"2012-03-13T12:33:19","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=12793"},"modified":"2012-03-13T14:33:26","modified_gmt":"2012-03-13T12:33:26","slug":"odemeler-dengesinde-degisen-bir-sey-yok","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/odemeler-dengesinde-degisen-bir-sey-yok\/","title":{"rendered":"\u00d6demeler Dengesinde De\u011fi\u015fen Bir \u015eey Yok"},"content":{"rendered":"<p>Ocak ay\u0131 \u00f6demeler dengesi verileri cari i\u015flemler a\u00e7\u0131\u011f\u0131nda \u00f6nemli bir de\u011fi\u015fime i\u015faret etmiyor.<br \/>\nD\u00f6viz kuru ve petrol fiyatlar\u0131ndaki geli\u015fmeler ile Avrupa&#8217;da ya\u015fanan belirsizli\u011fin etkileri bizim \u00f6demeler dengesine de yans\u0131m\u0131\u015f.<br \/>\n\u00d6nce cari a\u00e7\u0131\u011fa bakal\u0131m.<br \/>\nCari a\u00e7\u0131k ayl\u0131k olarak bir \u00f6nceki y\u0131l\u0131n ayn\u0131s\u0131. Y\u0131ll\u0131k a\u00e7\u0131k da 77.1 milyar dolar olarak ayn\u0131 d\u00fczeyde. Aral\u0131k ay\u0131na g\u00f6re ise a\u00e7\u0131kta 567 milyon dolarl\u0131k azal\u0131\u015f var. Burada de\u011fi\u015fen tek nokta, kur etkisiyle ihracat\u0131n art\u0131\u015f\u0131n\u0131n ithalat art\u0131\u015f h\u0131z\u0131ndan fazla olmas\u0131. Buna kar\u015f\u0131 enerji ithalat\u0131 y\u00fckselmi\u015f.<br \/>\nHizmetler sekt\u00f6r\u00fcnde de belirgin art\u0131\u015f yok. Cari a\u00e7\u0131\u011fa olumlu katk\u0131s\u0131 400 milyon dolar civar\u0131nda kalm\u0131\u015f.<br \/>\nOlu\u015fan bu a\u00e7\u0131\u011f\u0131n finansman\u0131nda ise d\u00f6viz rezervleri, net hata ve noksan ile bor\u00e7lanmalar ba\u015frol\u00fc oynam\u0131\u015flar.<br \/>\nBurada dikkati \u00e7eken bir ba\u015fka nokta da d\u0131\u015f bor\u00e7lanmalarda orta ve uzun vadeli kamu ve banka d\u0131\u015f\u0131 \u00f6zel sekt\u00f6r\u00fcn \u00f6ne \u00e7\u0131kmas\u0131. Toplam k\u0131sa vadeli bor\u00e7lanmalar ise a\u00e7\u0131\u011f\u0131n \u00fc\u00e7te biri oran\u0131nda 1.3 milyar dolarda kalm\u0131\u015f.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2841419237\"><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><strong>OCAK AYI B\u0130R \u0130ST\u0130SNA AMA&#8230;<\/strong><br \/>\nOcak ay\u0131 \u00f6demeler dengesi verileri istisnai bir d\u00f6nemin i\u015flemlerini yans\u0131t\u0131yor. Avrupa&#8217;daki belirsizliklerin h\u00e2l\u00e2 \u00e7\u00f6z\u00fclmemi\u015f olmas\u0131, risk i\u015ftah\u0131nda ba\u015flayan art\u0131\u015f\u0131n yeterli d\u00fczeylere \u00e7\u0131kmamas\u0131 ve ekonominin so\u011fumas\u0131na ili\u015fkin sinyallerin hen\u00fcz g\u00f6zlenmemesi, cari a\u00e7\u0131k ve bunun finansman\u0131nda \u00f6nemli bir de\u011fi\u015fiklik yapamam\u0131\u015f.<br \/>\nPetrol fiyatlar\u0131n\u0131n \u00f6nlenemez y\u00fckseli\u015fi de enerji gereksinimimizin azalmas\u0131na kar\u015f\u0131n ithalat\u0131 arzulanan d\u00fczeye geriletememi\u015f.<br \/>\nFinansman a\u00e7\u0131s\u0131ndan ise s\u0131k\u0131\u015f\u0131kl\u0131k kamu ve banka d\u0131\u015f\u0131 \u00f6zel sekt\u00f6r bor\u00e7lanmalar\u0131yla a\u015f\u0131lamay\u0131nca d\u00f6viz rezervlerini kullanmak gerekmi\u015f.<\/p>\n<p><strong>REZERVLER\u0130N KULLANIMI<\/strong><br \/>\nMerkez bankalar\u0131 d\u00f6viz rezervlerini zor g\u00fcnlerde cari i\u015flemler a\u00e7\u0131\u011f\u0131n\u0131 finanse etmek ya da kur hareketlerini yumu\u015fatmak i\u00e7in biriktirirler.<br \/>\nGe\u00e7mi\u015fte &#8220;Eyvah, d\u00f6vizlerimiz eriyor, milli servet heba oluyor&#8221; diye yaygara yapanlar ger\u00e7e\u011fi sonunda \u00f6\u011frendiler herhalde.<br \/>\nBu \u00e7er\u00e7evede cari a\u00e7\u0131\u011f\u0131n sermaye hareketleriyle finanse edilememesi durumunda d\u00f6viz rezervlerinin kullan\u0131lmas\u0131n\u0131 normal kar\u015f\u0131lamak gerekir.<br \/>\nNormal olmayan, bu s\u00fcrecin uzun s\u00fcre devam etmesidir.<br \/>\nGe\u00e7en y\u0131l\u0131n temmuz ay\u0131nda ba\u015flayan rezerv kullanarak a\u00e7\u0131\u011f\u0131 kapatma i\u015flemleri, a\u011fustos ay\u0131nda 3.6 milyar dolarla s\u00fcratlendi. Ekim ve aral\u0131k aylar\u0131nda s\u0131ras\u0131yla 3.7 ve 5.3 milyar dolarl\u0131k rezerv kullanarak durumu idare ettik.<br \/>\nOcak 2012&#8217;de de d\u00f6viz rezervlerinde 2.7 milyar dolarl\u0131k bir azal\u0131\u015f daha g\u00f6zlendi.<br \/>\nUmar\u0131m bu e\u011filim cari a\u00e7\u0131\u011f\u0131n finansman\u0131ndaki s\u0131k\u0131nt\u0131lar\u0131n uzamas\u0131 nedeniyle fazla devam etmez. Ederse piyasalar\u0131n bak\u0131\u015f a\u00e7\u0131s\u0131 da de\u011fi\u015febilir.<br \/>\n\u00c7\u00f6z\u00fcm, cari a\u00e7\u0131\u011f\u0131 al\u0131nan \u00f6nlemlerle a\u015fa\u011f\u0131 \u00e7ekmekten ge\u00e7mektedir.<br \/>\nBu azal\u0131\u015f niyet etmekle, &#8220;B\u00fcy\u00fcme d\u00fc\u015fecek, cari a\u00e7\u0131k azalacak&#8221; gibi s\u00f6ylemlerle de\u011fil somut politika kararlar\u0131n\u0131n uygulanmas\u0131yla olur.<br \/>\nFaizlerin d\u00fc\u015fmeye devam edece\u011fini ve b\u00fcy\u00fcmede yumu\u015fak ini\u015fin ger\u00e7ekle\u015fece\u011fini varsayd\u0131\u011f\u0131m\u0131zda tek g\u00fcvencemiz d\u0131\u015far\u0131daki iyile\u015fmeye paralel olarak finansmandaki darbo\u011faz\u0131n a\u015f\u0131lmas\u0131na dayanmaktad\u0131r.<br \/>\nBunun \u00e7\u00f6z\u00fcm de\u011fil, sorunlar\u0131 ileriye atma anlam\u0131na geldi\u011fi art\u0131k herkes taraf\u0131ndan bilinmektedir.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ocak ay\u0131 \u00f6demeler dengesi verileri cari i\u015flemler a\u00e7\u0131\u011f\u0131nda \u00f6nemli bir de\u011fi\u015fime i\u015faret etmiyor. D\u00f6viz kuru ve petrol fiyatlar\u0131ndaki geli\u015fmeler ile Avrupa&#8217;da ya\u015fanan belirsizli\u011fin etkileri bizim&hellip;<\/p>\n","protected":false},"author":418,"featured_media":5395,"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-12793","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\/12793","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\/418"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=12793"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/12793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/5395"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=12793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=12793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=12793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}