Turkey: Erdogan’s fiscal policies fuel skyrocketing inflation
By DW
16 June 2022 |
2:58 pm
Inflation is a problem everywhere but in Turkey it is currently a staggering 73.5%, with no end in sight. Still, President Erdogan insists on maintaining low interest rates.
In this article
Related
18 Jan 2022
Turkey is home to more refugees than any other country in the world, with more than 3 million Syrians and 300,000 Iraqis. But as the years have gone by, many Turks believe these refugees have overstayed their welcome. Now, as the economic crisis in the country gets worse, attacks have begun to escalate, both rhetorically and physically. Our correspondents Ludovic de Foucaud, Shona Bhattacharyya and Hussein Asad report from Bolu, a city whose mayor wants all foreigners out of Turkey.
25 Jan 2022
Protesters have taken to the streets across Turkey after President Recep Tayyip Erdogan formally withdrew from the world's first binding treaty to combat domestic violence. Erdogan said the Istanbul Convention had been hijacked by people trying to normalize homosexuality and was incompatible with traditional family values.
4 Feb 2022
In Turkey, inflation reached a record annual rate of 36 percent at the end of 2021. The Turkish lira has plummeted and in supermarkets, workers are forced to change price tags on basic necessities several times a day. Turks are increasingly struggling to buy staple foods like flour and milk. While some have taken to satirising the crisis on social media, protests remain rare out of fear of repression. Our France 2 colleagues report, with FRANCE 24's Camille Nedelec.
5 Feb 2022
Inflation in Turkey has soared to nearly 49 percent - the highest level in two decades. It's another sign that President Recep Tayyip Erdogan's unorthodox monetary policy may not be bearing fruit. Also in the show: as energy prices surge, British authorities unveil more financial aid for electricity bills, and Facebook shares plunge as it reports a drop in user numbers for the first time.
5 Feb 2022
Turkish rights activist Osman Kavala has been jailed for over four years for alleged involvement in the 2016 coup plot, although he has not been convicted of any crime. European rights bodies have demanded his release.
15 Feb 2022
Turkey’s economy is in crisis. But President Erdogan had his head in the sand. So, how long can he cling on to power? And what will follow? Guests: Sinem Adar (SWP), Bülent Mumay (journalist), Christian Hanelt (Middle East expert)
26 Feb 2022
A Turkish court has ordered that activist Osman Kavala must stay in jail, where he has been for four years without conviction. He is being held on an espionage charge widely seen as fabricated.
2 Mar 2022
Turkey can limit the crossing of Russian warships from the Mediterranean to the Black Sea through its straits under the Montreux Convention. Could it have an impact on Moscow's military agression against Ukraine?
11 Mar 2022
Ukrainian Foreign Minister Dmytro Kuleba has said no progress on a cease-fire was made at talks with his Russian counterpart. The meeting in Turkey was the first at this level since Russia's attack on Ukraine began.
17 Mar 2022
Turkey is one of the many countries calling for calm in Ukraine. President Recep Tayyip Erdogan says his government will relentlessly try to find a long-lasting ceasefire and Turkey has already hosted the first high-level peace talks between the Russian and Ukrainian foreign ministers. But Ankara is walking something of a tightrope because it's traditionally a friend of Ukraine and has been supplying drones to Kyiv. Yet it also depends on Russia for gas. Our Turkey correspondent Jasper Mortimer tells us more.
11 Apr 2022
A jet full of cocaine in Brazil shows Turkey's increasing role in global drug trafficking. The UN drugs agency says the cocaine is sent via Turkey to EU countries, as well as Eastern European and Middle Eastern nations.
4 May 2022
Turkish philanthropist Osman Kavala has been found guilty of attempting to overthrow the government by an Istanbul court. The rights activist was sentenced to life without possibility of parole.
Latest
6 hours ago
France has received a request from the Burkinabe military junta to withdraw its troops from the Sahel country and will do so within a month. The success of the counterterrorism operation has been limited, experts say.
6 hours ago
New Delhi has banned sharing links and clips to a BBC film about Prime Minister Modi. Now universities are cracking down on students trying to screen it.
6 hours ago
Thousands turn out to opposition-organised protests in South Africa to express deepening frustration over the country's power crisis. Also, in a rare trial of a former president, ex-Mauritanian leader Mohamed Ould Abdel Aziz appears in court on corruption charges. Finally, faced with about 15,000 tonnes of "e-waste" dumped in landfills every year, Rwanda is focusing more resources on recycling old smartphones.
6 hours ago
The former US president had been blocked from the social media platforms since the January 6, 2021 insurrection. Meta said it was taking measures to prevent "repeat offenders" from violating its rules.
6 hours ago
The Rwandan government says it had to take "defensive measures" after a Congolese combat plane violated its airspace. The Democratic Republic of Congo says the incident amounts to an "act of war."
7 hours ago
Russia's repeated assaults on Ukraine's energy grid has forced many cities to roll out power cuts to save energy. In the capital Kyiv, city authorities have restricted public lighting at night - with serious consequences for people out on the streets.