{"id":15142,"date":"2012-05-08T13:13:34","date_gmt":"2012-05-08T11:13:34","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=15142"},"modified":"2012-05-08T13:13:42","modified_gmt":"2012-05-08T11:13:42","slug":"hedef-capa-olmaktan-cikinca","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/hedef-capa-olmaktan-cikinca\/","title":{"rendered":"Hedef, \u00c7apa Olmaktan \u00c7\u0131k\u0131nca"},"content":{"rendered":"

2000’li y\u0131llar\u0131n ba\u015f\u0131nda uygulamaya konan istikrar program\u0131n\u0131n en \u00f6nemli ayaklar\u0131ndan biri kamu sekt\u00f6r\u00fcn\u00fcn her y\u0131l milli gelirin y\u00fczde 6.5’i kadar faiz d\u0131\u015f\u0131 fazla vermesiydi. Faiz d\u0131\u015f\u0131 fazla hedefi bir y\u0131ldan di\u011ferine tutturuldu\u011funda, ekonomik birimler b\u00fct\u00e7e a\u00e7\u0131klar\u0131n\u0131n ve kamu bor\u00e7lulu\u011funun azalaca\u011f\u0131na ikna olmaya ba\u015flad\u0131lar. Reel ve nominal faizler h\u0131zla d\u00fc\u015ft\u00fc. Bug\u00fcn kamu finansman\u0131 ile \u00e7ok \u00f6v\u00fcnd\u00fc\u011f\u00fcm\u00fcz bir noktaya geldik.
\n2006 y\u0131l\u0131 ba\u015f\u0131nda para politikas\u0131nda a\u00e7\u0131k enflasyon hedeflemesine ge\u00e7ildi\u011finde, ekonomik birimler i\u00e7in yeni \u00e7apan\u0131n hedef enflasyon olmas\u0131 arzuland\u0131. Bu amaca y\u00f6nelik politika yap\u0131c\u0131lar\u0131n\u0131n \u0131srar\u0131 vard\u0131. Ama, i\u00e7 ve d\u0131\u015f konjonkt\u00fcr enflasyon hedefinin ekonomik birimler g\u00f6z\u00fcnde yeni ve g\u00fc\u00e7l\u00fc bir \u00e7apa olmas\u0131n\u0131 engelledi. \u00c7apa i\u015flevinin g\u00fcndemde kalmas\u0131 u\u011fruna hedefin yukar\u0131 y\u00f6nde g\u00fcncellenmesi s\u00f6z konusu oldu. 2009 y\u0131l\u0131ndaki ekonomik k\u00fc\u00e7\u00fclme d\u00f6nemi hari\u00e7, ger\u00e7ekle\u015fen enflasyon hedefin hep \u00fczerinde kald\u0131. G\u00f6rmeden inanmayan ekonomik birimler i\u00e7in enflasyon hedefinin bir \u00e7apa olmas\u0131 g\u00f6revi arzuland\u0131\u011f\u0131 \u015fekilde hayata ge\u00e7irilemedi.<\/p>

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