Inflation, the fall of the stock exchange and the Armaghan political crisis in Türkiye
Mehr News Agency’s Economic Reporter quoted Frances 2, 7 days ago and on March 5, Akram Imam Aghlou, Istanbul mayor, and the main rival of Turkish President Rajab Terrorist groups were arrested by Turkish security forces.
Since then, Turkey has witnessed popular demonstrations and widespread unrest in protest of the move, which has severely affected the country’s economy.
After the arrest of Imam Aqlu, the Turkish Stock Exchange fell more than 2 % in a six-day period, and only lost its value on the day of his arrest, the heaviest falling since the global economic crisis in year 6. It is worth noting that the conditions on the Turkish stock exchange were such that we have been stopped by trading due to heavy market fall.
On the other hand, the value of the national currency has experienced a heavy decline, and now the equality of the dollar with the lira has reached above 5 liras per dollar. The Turkish Central Bank is said to have poured $ 5 billion in foreign currency in the country to prevent further fall.
Experts have warned that the continuation of the political and social crisis in Turkey will also lead to a sharp increase in inflation.
Economic expert Mustafa Sonmes believes that with the arrest of Imam Aqlu, Erdogan launched a new economic crisis in Turkey and negatively turned the markets.
Emre Ekrakmak, Economic Capital Economic Expert, believes that the government and the central bank of Turkey are trying to control or reduce fluctuations in the country’s financial markets.
“In such situations when Turkish investors do not know what is happening, it will be very difficult to attract long-term foreign investment for Turkey,” he said.
While Turkey experienced a 5 % inflation in the year, which led to a sharp rise in the cost of living in Turkish households, the country’s inflation was below 5 % over the past month, and for the first time in five years. Experts have warned that with the fall of the lira against the dollar we will see an increase in inflation in the country again.
Sunmes says
Sunmes says: In the case of those who have money, they move toward foreign currency, gold and property to maintain its value, and this leads to increased inflation.
Turkish Economy Minister Mahmat Simsk has been trying to recruit investors who had turned from Turkey to Turkey for five years for Erdogan’s unusual economic policies, especially in interest rates. Recent unrest appears to have put these efforts as a result of Erdogan’s re -creation crisis.
work has reached the point where rumors of Simsk’s resignation in Türkiye were later denied.
