Food prices in Turkey are growing
For more than two years, the Turkish lira has been falling uncontrollably. The unemployment rate - especially among young professionals - is dramatic. Prices for staple foods fluctuate wildly. Since the beginning of the currency and economic crisis in autumn 2018, the situation has remained unchanged: the economy is in a deplorable state, and the measures of the Turkish government in economic and monetary policy are not bringing the desired result,- DW reports.
Last fall, Turkish President Recep Tayyip Erdogan ushered in a "new era of economy." Following this, layoffs began in the country: first, the head of the Central Bank, Murat Uysal, lost his post, then, referring to health problems, Minister of Finance Berat Albayrak resigned.
In November 2020, radical steps in monetary policy followed. The key interest rate was unexpectedly raised from 10.25 to 15 percent, and in December it was raised to 17 percent.
Inflation is still on the rise, currently at 14.97 percent, the highest since August 2019.
Recall that in Turkey there is a very large Circassian community numbering about 7 million people. They live in all the cities of the country and in 300 Circassian villages located in all regions of the country.
Turkish residents have to pay 15 percent more for food in markets
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