Following years of mismanagement by an authoritarian president, Turkey’s economy is reeling. Without new leadership or a course correction that includes a tighter monetary policy, Turkish households’ economic prospects will continue to darken, and the impact on the country’s stability will become impossible for others to ignore.
Shortly before TurkStat shared the official inflation rates for December 2021, the Inflation Research Group (ENAG) announced that the annual consumer inflation rate was 82.81 percent and monthly inflation rate was 19.35 percent last month.
With every challenge that he survives—the Gezi Park protests of 2013, an attempted coup in 2016—his ego has grown. Sensible advisers have quit,
Politicians and pundits have questioned whether the lira’s recent fluctuations were triggered by the government on purpose.
Turkish President Recep Tayyip Erdoğan on Dec. 20 announced a series of measures to encourage lira-denominated
It is not possible for the state to compensate the difference between the exchange rate increase and the interest rate for a long time. The possibility of an election in the fall has increased very much.
The Turkish lira gained about 15 percent in value against the US dollar within hours after President Erdoğan introduced the new system.