Turkey’s inflation soars to 36% as Erdogan stays the course
05 January 2022 | 10:19 am
Inflation in Turkey has soared to its highest level in nearly two decades. Despite the 36% surge in consumer prices, President Recep Tayyip Erdogan has defended his unorthodox economic vision. France 24 Correspondent Jasper Mortimer has the latest from Ankara. Also in the show - the French government expands emergency support for businesses affected by the pandemic, and Apple becomes the first US company to be worth $3 trillion.
The US had previously blocked Turkey from buying fighter jets because the Turkish government had purchased S-400 defense air systems from Moscow.
In Turkey, young people recently expressed their frustration with the authorities when students protested an ongoing spike in housing prices. This protest movement reflects the growing difficulties of the general population amid sky-high living costs, even as the government refuses to acknowledge the economic crisis. Our Istanbul correspondents Ludovic de Foucaud, Hussein Asad and Shona Bhattacharyya report.
The move means 10 ambassadors — including those of Germany and the United States — are now just one step from expulsion after calling for the release of activist Osman Kavala.
After declaring 10 diplomats from Western countries "persona non grata" over their support of a civil society leader, it appears Turkish President Erdogan has changed his mind.
Turkey's president has adopted a more moderate tone in his recent diplomatic spat with Western ambassadors. The expulsion of 10 envoys now no longer seems likely.
After a summer of devastating forest fires and flooding, Turkey has become the last G20 country to ratify the Paris Agreement. Although it's among the world's biggest economies, Turkey wants UN climate officials to reclassify it as a developing country. That way, it would gain access to funding that could help Ankara adapt its inefficient farming methods. Our correspondents Shona Bhattacharyya, Ludovic de Foucaud and Hussein Asad report from Central Anatolia, where the country's second-biggest lake – Tuz Gölü or Salt Lake – is drying up.
Greek officials claim Turkey is acting like a "pirate state in the Aegean Sea" in regards to migrants. Athens has called on the EU to put pressure on Ankara to meet its international obligations.
The US consumer price index rose at an annual rate of 6.2 percent in October, its biggest jump since 1990. Also, amid the country's tight labour market, Starbucks workers hope to form the first-ever unions at the company's US branches. Finally, Tesla CEO Elon Musk sells $5 billion in company shares.
Turkey has banned nationals from Iraq, Syria and Yemen from traveling to Belarus. It comes amid EU pressure over migrants stranded at Belarus' border with Poland.
Pakistan is witnessing an unprecedented economic turmoil, with the inflation rate rising exponentially. DW spoke to some locals who say it has become impossible for them to make ends meet.
Inflation is continuing to soar in advanced economies around the world. In the UK, the consumer price index rose by 4.2 percent in October, the highest in a decade, while the eurozone's inflation rate hit a 13-year high. Also in the show: the EU proposes new rules to combat deforestation, and thousands of Chinese millennials seek a new life on rural farms.
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