Ekonomistler enflasyonun enerji krizi ve tedarik zincirinin bozulmas\u0131 gibi sebeplerden oldu\u011funu s\u00f6ylese de kimi g\u00f6r\u00fc\u015fler \u015firketlerin y\u00fcksek k\u00e2rl\u0131l\u0131klar\u0131n\u0131n enflasyonu tetikledi\u011fi g\u00f6r\u00fc\u015f\u00fcnde. Peki uzmanlar ne diyor? Sozcu.com.tr ara\u015ft\u0131rd\u0131…<\/b><\/p>\n
D\u00fcnya ekonomileri y\u00fcksek enflasyon ve artan ya\u015fam maliyetlerinin yaratt\u0131\u011f\u0131 sorunlarla bo\u011fu\u015furken enflasyonun sebepleri de tart\u0131\u015fma konusu oldu.<\/p>\n
Pek \u00e7ok ekonomist mevcut k\u00fcresel enflasyonun enerji krizi, g\u0131da maliyetlerinin artmas\u0131 ve tedarik zincirinin bozulmas\u0131 gibi sebeplerden oldu\u011funu s\u00f6ylese de kimi alternatif g\u00f6r\u00fc\u015fler \u015firketlerin y\u00fcksek k\u00e2rl\u0131l\u0131klar\u0131n\u0131n enflasyonu tetikledi\u011fi g\u00f6r\u00fc\u015f\u00fcnde.<\/p>\n
T\u00fcrkiye\u2019de ve d\u00fcnyada son 2 y\u0131lda \u015firketlerin k\u00e2rlar\u0131 rekor d\u00fczeyde artarken \u00f6zellikle tekel veya oligopol (az say\u0131da \u015firketten olu\u015fan) piyasalarda \u015firketlerin y\u00fcksek k\u00e2rl\u0131l\u0131klar\u0131n\u0131 maliyet art\u0131\u015f\u0131n\u0131n \u00fcst\u00fcnde yap\u0131lan fiyat art\u0131\u015flar\u0131ndan sa\u011flad\u0131\u011f\u0131 iddia ediliyor.<\/p>\n
Konu ile ilgili Sozcu.com.tr\u2019ye de\u011ferlendirmelerde bulunan Prof. Hayri Kozano\u011flu, \u015firketlerin enflasyonist ortam\u0131 f\u0131rsat bildi\u011fini belirtirken Prof. Ceyhun Elgin ise y\u00fcksek k\u00e2rl\u0131l\u0131klar\u0131n enflasyonu artt\u0131r\u0131c\u0131 bir etkisinin oldu\u011funu ancak genel olarak enflasyonun tamam\u0131n\u0131 bu k\u00e2rl\u0131l\u0131k art\u0131\u015flar\u0131na ba\u011flamamak gerekti\u011fini dile getirdi.<\/p>\n
\u2018B\u0130R BA\u015eKA \u015eOK DA K\u00c2R PATLAMALARI\u2019<\/b><\/p>\n
Nisanda ABD Merkezli d\u00fc\u015f\u00fcnce kurulu\u015fu Ekonomik Politika Enstit\u00fcs\u00fc\u2019n\u00fcn blo\u011funda ekonomist Josh Bivens taraf\u0131ndan yay\u0131mlanan bir yaz\u0131da payla\u015f\u0131lan verilerde \u015firket k\u00e2rl\u0131l\u0131klar\u0131n\u0131n enflasyona etki etti\u011fi belirtilirken devletlerin buna kar\u015f\u0131 ne gibi \u00f6nlemler almas\u0131 gerekti\u011fi tart\u0131\u015f\u0131ld\u0131.<\/p>\n
Bivens, finans d\u0131\u015f\u0131 kurumsal sekt\u00f6rde nisan ay\u0131nda 2020 ve 2021 aras\u0131ndaki fiyat art\u0131\u015f\u0131n\u0131n yar\u0131s\u0131ndan fazlas\u0131n\u0131 \u015firket k\u00e2rlar\u0131n\u0131n olu\u015fturdu\u011funu tespit eden bir \u00e7al\u0131\u015fma yay\u0131nlad\u0131. Bivens, \u201cFiyatlar\u0131 art\u0131ran k\u00e2r marjlar\u0131ndaki b\u00fcy\u00fck art\u0131\u015f\u0131 pandemi gibi, petrol fiyat \u015foku gibi ba\u015fka bir \u015fok olarak g\u00f6r\u00fcyorum\u201d dedi.<\/p>\n
1955\u2019TEN BU YANA G\u00d6R\u00dcLEN EN B\u00dcY\u00dcK ARTI\u015e<\/b><\/p>\n
Liberal bir d\u00fc\u015f\u00fcnce kurulu\u015fu olan Roosevelt Enstit\u00fcs\u00fc taraf\u0131ndan haziranda yay\u0131mlanan bir ba\u015fka rapor da baz\u0131 firmalar\u0131n piyasa konumlar\u0131n\u0131 istismar etti\u011fini belirtti. ABD enflasyonu ge\u00e7ti\u011fimiz aylarda 1970\u2019lerden bu yana g\u00f6rd\u00fc\u011f\u00fc en y\u00fcksek seviyeye yerle\u015firken rapora g\u00f6re \u015firketlerin k\u00e2rlar\u0131ndaki y\u0131ll\u0131k art\u0131\u015f 1955\u2019ten bu yana g\u00f6r\u00fclen en y\u00fcksek seviyeye ula\u015ft\u0131.<\/p>\n
\u00c7al\u0131\u015fman\u0131n yazarlar\u0131ndan Roosevelt Enstit\u00fcs\u00fc ekonomisti Mike Konczal konu ile ilgili, \u201cK\u00e2rlardaki bu art\u0131\u015f enflasyondaki art\u0131\u015fta \u015firket g\u00fcc\u00fcn\u00fcn k\u00fc\u00e7\u00fck ama ger\u00e7ek bir rol\u00fc oldu\u011funu d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor\u201d dedi.<\/p>\n
BEYAZ SARAY ENERJ\u0130DEK\u0130 Y\u00dcKSEK K\u00c2RLARI HEDEF ALMI\u015eTI<\/b><\/p>\n
Ge\u00e7ti\u011fimiz aylarda Beyaz Saray y\u00f6netimi de a\u015f\u0131r\u0131 k\u00e2r eden enerji \u015firketlerini hedef tahtas\u0131na oturtmu\u015f ve onlar\u0131 akaryak\u0131t fiyatlar\u0131n\u0131 art\u0131rmak ve enflasyonu tetiklemekle su\u00e7lam\u0131\u015ft\u0131.<\/p>\n
ABD’de akaryak\u0131t maliyetlerinin enflasyon \u00fczerinde bask\u0131 olu\u015fturmas\u0131 nedeniyle ABD Ba\u015fkan\u0131 Joe Biden, \u015firketlerin fiyatlar\u0131 t\u00fcketicilerin aleyhine y\u00fcksek tuttu\u011funu s\u00f6yleyerek \u00fcretimi art\u0131rma \u00e7a\u011fr\u0131s\u0131 yapm\u0131\u015ft\u0131.<\/p>\n
T\u00dcRK\u0130YE\u2019DEK\u0130 B\u00dcY\u00dcK \u015e\u0130RKETLER\u0130N K\u00c2RLARI PATLADI<\/b><\/p>\n
\u00d6te yandan T\u00fcrkiye\u2019de de eyl\u00fclde y\u00fczde 83,45\u2019e ula\u015fan enflasyonun yan\u0131nda ge\u00e7ti\u011fimiz aylarda \u015firketlerin k\u00e2rlar\u0131nda patlama ya\u015fand\u0131\u011f\u0131 g\u00f6r\u00fclm\u00fc\u015ft\u00fc. \u00d6rne\u011fin ikinci \u00e7eyrek bilan\u00e7olar\u0131na bak\u0131ld\u0131\u011f\u0131nda Borsa \u0130stanbul\u2019da i\u015flem g\u00f6ren 429 \u015firketin bu \u00e7eyrekte elde ettikleri toplam net k\u00e2r, ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re y\u00fczde 286 art\u0131\u015fla 200 milyar TL\u2019yi a\u015ft\u0131.<\/p>\n
B\u00f6ylelikle borsa \u015firketlerinin 6 ayl\u0131k toplam k\u00e2r\u0131 ge\u00e7en y\u0131la g\u00f6re y\u00fczde 220,5 art\u0131\u015f g\u00f6stererek 316,5 milyar TL oldu. Kimi uzmanlar \u015firketlerin enflasyon muhasebesi uygulamamas\u0131 nedeniyle bu verilerin reel k\u00e2rl\u0131l\u0131\u011f\u0131 g\u00f6stermedi\u011fini belirtse de sanayi ve enerji gibi sekt\u00f6rlerde k\u00e2r art\u0131\u015flar\u0131n\u0131n maliyet art\u0131\u015flar\u0131n\u0131n \u00fcst\u00fcnde kald\u0131\u011f\u0131 g\u00f6r\u00fcld\u00fc.<\/p>\n
\u00d6rne\u011fin petrol ve d\u00f6viz kurlar\u0131ndaki art\u0131\u015flar nedeniyle bu y\u0131l akaryak\u0131t fiyatlar\u0131 sert y\u00fckselirken, T\u00fcrkiye Petrol Rafinerileri A.\u015e’nin (T\u00fcpra\u015f) k\u00e2rlar\u0131n\u0131n katlanmas\u0131 dikkat \u00e7ekti.\u00a0Ge\u00e7en y\u0131l\u0131n ikinci \u00e7eyre\u011finde 1,7 milyar TL olan T\u00fcpra\u015f’\u0131n net d\u00f6nem k\u00e2r\u0131 y\u00fczde 524’l\u00fck art\u0131\u015fla 10,6 milyar TL’ye y\u00fckseldi.<\/p>\n
SANAY\u0130 DEVLER\u0130 GE\u00c7EN YIL K\u00c2RINI KATLAMI\u015eTI<\/b><\/p>\n
\u0130stanbul Sanayi Odas\u0131 (\u0130SO) taraf\u0131ndan a\u00e7\u0131klanan \u2018T\u00fcrkiye\u2019nin 500 B\u00fcy\u00fck Sanayi Kurulu\u015fu (\u0130SO 500)’ ara\u015ft\u0131rmas\u0131n\u0131n 2021 y\u0131l\u0131 sonu\u00e7lar\u0131nda da k\u00e2rdaki art\u0131\u015flar da dikkat \u00e7ekti.<\/p>\n
\u0130SO 500’\u00fcn toplam faaliyet k\u00e2r\u0131 2021’de \u00f6nceki y\u0131la g\u00f6re y\u00fczde 139 artarak 342 milyar TL’ye ula\u015ft\u0131. Sat\u0131\u015f rakam\u0131na g\u00f6re faaliyet k\u00e2rl\u0131l\u0131\u011f\u0131 oran\u0131 da 4 puan art\u0131\u015fla y\u00fczde 14,8’e y\u00fckseldi. SO 500’\u00fcn faiz, amortisman ve vergi \u00f6ncesi k\u00e2r\u0131 (FAV\u00d6K) da bu d\u00f6nemde y\u00fczde 120 art\u0131\u015fla 405 milyar TL’ye ula\u015ft\u0131. FAV\u00d6K k\u00e2rl\u0131l\u0131\u011f\u0131 da 3,6 puan art\u0131\u015fla y\u00fczde 17,5\u2019e \u00e7\u0131kt\u0131.<\/p>\n
\u0130SO 500’\u00fcn d\u00f6nem k\u00e2r\u0131 y\u00fczde 137,2 oran\u0131nda artarken, toplam \u00fccret \u00f6demelerindeki art\u0131\u015f sadece y\u00fczde 33,4 oldu. \u0130\u015f\u00e7i ba\u015f\u0131 ortalama \u00fccret art\u0131\u015f\u0131 ise y\u00fczde 26,3’te kald\u0131. 2021 sonunda resmi t\u00fcketici enflasyonu y\u00fczde 36,08 olmu\u015ftu.<\/p>\n
\u00d6te yandan \u015firketlerin ald\u0131\u011f\u0131 pay sadece \u0130SO 500’de de\u011fil milli gelir verilerinde de y\u00fckseldi. 2022 ikinci \u00e7eyrekte mevsimsellikten ar\u0131nd\u0131r\u0131lm\u0131\u015f veriye g\u00f6re net i\u015fletme art\u0131\u011f\u0131n\u0131n GSYH’ye oran\u0131, yani sermayenin milli gelirden ald\u0131\u011f\u0131 pay bir \u00f6nceki y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki y\u00fczde 46,3’ten y\u00fczde 50,4’e \u00e7\u0131kt\u0131. Eme\u011fin milli gelirden ald\u0131\u011f\u0131 pay ise d\u00fc\u015f\u00fc\u015f g\u00f6sterdi.<\/p>\n
\u2018MAL\u0130YET ARTI\u015eLARI ENFLASYONDA BEL\u0130RLEY\u0130C\u0130\u2019<\/b><\/p>\n
Konu ile ilgili Sozcu.com.tr\u2019ye de\u011ferlendirmelerde bulunan Bo\u011fazi\u00e7i \u00dcniversitesi Ekonomi B\u00f6l\u00fcm\u00fc \u00d6\u011fretim \u00dcyesi Prof. Dr. Ceyhun Elgin, \u015firket k\u00e2rl\u0131l\u0131klar\u0131n\u0131n teknoloji, e-ticaret gibi kimi sekt\u00f6rlerde \u00e7ok y\u00fcksek boyutlara geldi\u011fini, bunun enflasyona art\u0131r\u0131c\u0131 bir etkisinin oldu\u011funu ancak genel olarak enflasyonun tamam\u0131n\u0131 bu k\u00e2rl\u0131l\u0131k art\u0131\u015flar\u0131na ba\u011flamamak gerekti\u011fini belirtti.<\/p>\n
Elgin, \u201cT\u00fcrkiye\u2019de oldu\u011fu gibi d\u00fcnyada da \u00dcFE art\u0131\u015f oran\u0131 T\u00dcFE art\u0131\u015f oran\u0131ndan \u00e7ok daha y\u00fcksek. Yani, \u00fcreticiler asl\u0131nda \u00e7ok daha y\u00fcksek maliyetlerle kar\u015f\u0131 kar\u015f\u0131yalar ve bu art\u0131\u015f\u0131n da tamam\u0131n\u0131 t\u00fcketici fiyatlar\u0131na yans\u0131tm\u0131\u015f de\u011filler. Dolay\u0131s\u0131yla \u015firket karl\u0131l\u0131klar\u0131 her sekt\u00f6rde art\u0131yor ve enflasyonun temel nedeni budur d\u00fc\u015f\u00fcncesi \u00e7ok da do\u011fru de\u011fil\u201d dedi.<\/p>\n
Elgin a\u015f\u0131r\u0131 y\u00fcksek k\u00e2rl\u0131l\u0131klar\u0131n enflasyona d\u00f6n\u00fck olumsuz etkisini \u00f6nlemenin ya da azaltman\u0131n yolunun reg\u00fclasyon ve \u015firket k\u00e2rl\u0131l\u0131klar\u0131n\u0131n kurumlar vergisi yoluyla vergilendirmesinden ge\u00e7ti\u011fini belirterek, \u201cBu nedenle de e\u011fer \u015firket karl\u0131l\u0131klar\u0131na y\u00f6nelik bir d\u00fczenleme yap\u0131lacaksa \u00f6nce sekt\u00f6rel bir analizle inceleme yapmak ve reg\u00fclasyonlar\u0131 sekt\u00f6r baz\u0131nda tan\u0131mlamak gerekiyor\u201d dedi.<\/p>\n
\u2018ENFLASYON\u0130ST ORTAM B\u00dcY\u00dcK \u015e\u0130RKETLERE YARADI\u2019<\/b><\/p>\n
\u0130ktisat\u00e7\u0131 Prof. Dr. Hayri Kozano\u011flu ise enflasyonun as\u0131l nedeninin arz y\u00f6nl\u00fc \u015foklar ve finansalla\u015fma s\u00fcrecinde \u00fcretimin yeterince artmamas\u0131 oldu\u011funu belirterek \u201cBu ortam b\u00fcy\u00fck \u015firketlere yarad\u0131, enflasyon alg\u0131s\u0131n\u0131 f\u0131rsat bilerek fiyatlar\u0131n\u0131 dolay\u0131s\u0131yla karlar\u0131n\u0131 keskince art\u0131rd\u0131lar\u201d dedi.<\/p>\n
Kozano\u011flu \u015fu de\u011ferlendirmelerde bulundu:<\/p>\n
\u201cTemelde bir fiyat\u0131n i\u00e7inde emek maliyetleri, emek d\u0131\u015f\u0131 girdi maliyetleri ve k\u00e2rlar vard\u0131r. Son d\u00f6nemlerdeki k\u00fcresel enflasyon art\u0131\u015f\u0131 kar\u015f\u0131s\u0131nda merkez bankalar\u0131 seri faiz art\u0131\u015flar\u0131na gidiyor. Gerek\u00e7eleri de talebin g\u00fc\u00e7l\u00fcl\u00fc\u011f\u00fc, \u00fccret\/fiyat sarmal\u0131na girme tehlikesi. Halbuki \u00fccretlerde nominal art\u0131\u015flar g\u00f6r\u00fclse de reel olarak bir gerileme s\u00f6z konusu. Zaten T\u00fcrkiye dahil hemen t\u00fcm \u00fclkelerde \u00fccretlerin katma de\u011ferdeki pay\u0131 geriliyor.<\/p>\n
Ancak k\u00fcresel sermaye s\u0131n\u0131fsal bir refleks g\u00f6steriyor, emek kesiminin \u00fccret taleplerini ve direni\u015flerini umac\u0131 gibi yans\u0131t\u0131yor. Enflasyonun as\u0131l nedeni, arz y\u00f6nl\u00fc \u015foklar ve finansalla\u015fma s\u00fcrecinde \u00fcretimin yeterince artmam\u0131\u015f olmas\u0131. Bu ortam b\u00fcy\u00fck \u015firketlere yarad\u0131, enflasyon alg\u0131s\u0131n\u0131 f\u0131rsat bilerek fiyatlar\u0131n\u0131 dolay\u0131s\u0131yla karlar\u0131n\u0131 keskince art\u0131rd\u0131lar. \u00d6zellikle enerji ve hammadde \u00fcretimi yapan sekt\u00f6rlerde rekor karlar g\u00f6zlendi.\u201d<\/p>\n
F\u0130YAT SINIRLAMALARI VE VERG\u0130LEND\u0130RMELER GEREKEB\u0130L\u0130R<\/b><\/p>\n
Kozano\u011flu, bunun \u00f6n\u00fcne ge\u00e7mek i\u00e7in \u00e7e\u015fitli fiyat s\u0131n\u0131rlamalar\u0131 ve a\u015f\u0131r\u0131 k\u00e2rlar\u0131n ekstra vergilenmesi gibi \u00f6nlemler al\u0131nabilece\u011fini belirtti. Kozano\u011flu, \u201cBu do\u011frultuda ABD dahil baz\u0131 giri\u015fimler olduysa da etkin bir uygulamay\u0131 sermaye \u00e7evreleri engelledi. Son d\u00f6nemlerde \u015firket gelirlerinde ve k\u00e2rlarda bir yava\u015flama var. Bu da yat\u0131r\u0131mlar\u0131n durmas\u0131na neden oluyor\u201d dedi.<\/p>\n
T\u00fcm bunlar\u0131n \u00fczerine bir de s\u0131k\u0131 para politikalar\u0131n\u0131n eklendi\u011fini ve bunun da k\u00fcresel bir durgunluk tehlikesini art\u0131rd\u0131\u011f\u0131n\u0131 belirten Kozano\u011flu, \u201cBundan en b\u00fcy\u00fck zarar\u0131 i\u015ften \u00e7\u0131kar\u0131lmas\u0131, \u00fccretlerinin d\u00fc\u015fmesi olas\u0131l\u0131\u011f\u0131 artan i\u015f\u00e7iler ve y\u00fcksek faiz ortam\u0131nda bor\u00e7 y\u00fck\u00fc kabaran, ihracat gelirleri yava\u015flayan geli\u015fmekte olan \u00fclkeler g\u00f6recek\u201d de\u011ferlendirmesinde bulundu.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ekonomistler enflasyonun enerji krizi ve tedarik zincirinin bozulmas\u0131 gibi sebeplerden oldu\u011funu s\u00f6ylese de kimi g\u00f6r\u00fc\u015fler \u015firketlerin y\u00fcksek …<\/p>\n","protected":false},"author":1,"featured_media":42950,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[62,75,1563,217,1280],"class_list":["post-42949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-artis","tag-fiyat","tag-kar","tag-sirket","tag-sirketlerin"],"_links":{"self":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts\/42949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42949"}],"version-history":[{"count":1,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts\/42949\/revisions"}],"predecessor-version":[{"id":42951,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/posts\/42949\/revisions\/42951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=\/wp\/v2\/media\/42950"}],"wp:attachment":[{"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haberulus.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}