Finance Knuggets

Mar 08, 2024

I recently read about the incredible balancing act that Turkey has been able to maintain, with a rapidly growing economy despite a fragile financial structure. The country’s economy has grown about 25% in real terms since the end of 2019, and inflation-adjusted consumer spending is up by 60%. This growth has occurred alongside soaring inflation, a collapsing currency, and desperate policy innovations to sustain financial inflows from abroad. The Central Bank of the Republic of Turkey’s reversion to policy orthodoxy seems to be helping to avoid an acute crisis, but the situation remains precarious.

In another news update, the clock is ticking on tax cuts, with estate and gift tax exemptions at an all-time high until the end of 2025. Wealth strategist Christopher Tate breaks down what is at stake and advises on planning for the sunset date now. Additionally, there are updates on the ASEAN-Australia special summit, which highlighted new investments and bilateral sector boosts amid AUKUS and China rhetoric, as well as South China Sea tensions. Australia announced significant bilateral deliverables across various key sectors, indicating future priorities for ties.

Overall, these updates point to the complex and ever-changing landscape of global economies and geopolitics, which financial experts need to closely monitor and analyze to provide valuable insights and guidance to their clients.

Stay Well!