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Turkey’s economic turmoil spikes despair and inflation

Istanbul — A 20-year economic boom that has pushed millions of Turks into the middle class, a currency where people line up for subsidized bread, lose meat and flee to live a better life in Europe We are beginning to be exposed to the threat of crisis.

The Turkish lira has lost 45% of its value this year, making ordinary Turks poor. The rise in consumer prices during the pandemic era, which has plagued economies around the world, is enormous in Turkey, where inflation exceeds 21%. People here are in a hurry to trade shrinking wages for dollars and gold, eat out less, and have a hard time finding imports, including medicines.

Turkey’s economic turmoil spikes despair and inflation

Source link Turkey’s economic turmoil spikes despair and inflation

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