Turkish Economic Outlook – Megalopreneur

In recent months, the inflation rate in Turkey has been steadily rising and last month the annual inflation rate was around 50%. However, the central bank has not changed interest rates in its last two meetings and has instead tried to ensure the stability of the national currency by using other tools, such as injecting dollars into the market and buying lira.

There has been no major change in the value of the lira for some time, and Turkish President Recep Tayyip Erdogan has described the stability as a sign that the economy is entering a powerful period in Turkish history.

But the facts are disturbing. Erdogan is adamantly opposed to raising interest rates and has always promised the people that economic conditions will improve next year. The Turkish central bank has repeatedly cut interest rates due to Erdogan’s pressure, leading to a devaluation of the lira and rising inflation. The Turkish economy was already in big trouble, and in the last two years, the corona epidemic has added to the pressure.

Economists and opponents of the Turkish government have always stressed that non-orthodox monetary policies, such as lowering interest rates to curb inflation, are wrong and cause currency instability. But Erdogan has a different view. The Turkish government believes that inflation will gradually decrease as foreign exchange earnings increase, But forecasts suggest that inflation will be above 30% by the end of this year.

The persistence of high inflation has put severe pressure on the people, and if conditions do not change, Erdogan’s chances of winning the 2023 presidential election will be slim. The government has tried in various ways to reduce the impact of high inflation on people’s lives, But these measures are not effective enough.

The present articles refer to different aspects of the Turkish economy, different views on the economic horizon, the impact of the current situation on the people, and the development of the Turkish tourism sector.

Jasbir
Jasbirhttps://www.megalopreneur.com/
Graduate from India. Trying to understand Indian Politics. Writing about Technology, Education, Brands, Business, and much more. Editor at MegaloPreneur

Your Comment

Discover

Sponsor

spot_imgspot_img

Latest

The doctor has applied for the Miss BumBum pageant, no one wants to hire her anymore

Souza was one of the favorites last year Model and doctor Ryan Laura Souza, 26, who lives in Bolivia last year, applied for the Miss...

Romina Malaspina, the sensual woman who makes all men sigh

The beautiful model was born on July 7, 1994, in Mar del Plata. Her beauty and way of being led her to be part...

Until yesterday, everyone in Croatia laughed at Aleksandra Prijovic, and today they are crazy about her songs

Even these days, the trend on YouTube in Croatia is not surprising - young Croats on this platform mostly listen to Serbian turbo-folk hits...

SEKA ALEKSIC BANNED IN THE MEDIA BECAUSE OF THIS- The singer answered and said only one thing

Seka also revealed that her older son Jakov is now in the growing up phase when he is very restless, but that she tries...

Emina Jahovic admitted that she did not have an easy life- I was the target, I was tried

Singer Emina Jahovic has often been the subject of gossip due to her divorce from Mustafa Sandal Singer Emina Jahovic has often been the subject...