Scenes of misery in Turkey: “I buy an orange instead of two” – “We reduce the water”

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Scenes of misery in Turkey, which is one breath away from the crash. The country’s central bank is selling foreign currency to support the pound, the sinking of which combined with a spike in inflation has impoverished millions of citizens. Meanwhile, the Turkish president insists on defending his controversial position on lowering interest rates by talking about a politically risky, “but right” plan.

62% of citizens converted their deposits in foreign currency (euros and dollars from Turkish pounds). Retirees and employees who received their salary today converted it while others borrow from banks to get foreign currency. They are not looking for lockers from the banks.

State of misery

In these conditions, a large part of the population is in a state of misery, unable to cope even with the basics. Food and basic necessities … by the gram. Consumers in Turkey are raising their hands and the lower classes are resorting to solutions they have never had to resort to.

“We managed to buy 250 grams or 100 grams of rice. I bought half a kilo of sugar. We used to buy these in packages of 5 kilos. I no longer buy margarine because I have no money. “I do not have any left,” said a woman.

Traders are even more concerned … They see their turnover decrease as prices rise, as expensive products remain on the shelf, while the quantities bought by customers decrease sharply.

“My customers have stopped buying sunflower oil. Is not for sale. They only buy margarine. And I no longer bring the five liters of oils. They are not for sale. They reached 130 pounds. Whereas once they bought a mold of cheese now they ask for half. Others ask for 50 grams of olives. “They buy tomatoes and cucumbers with the piece,” said a young trader.

“I buy an orange instead of two. I put two spoons of oil in the food now I put a spoon. I buy rice for a glass. “I buy the smallest bottle of oil and use it with the spoon,” says an elderly woman.

“Fire” the bun – 40% increase

Shock prices are causing shock in Turkey. Official inflation is at 19.8%, but the 40% increase in the price of the bun has just been announced. It’s the poor man’s breakfast here in Turkey. And yet from 2.5 pounds, the price will rise to 3.5 pounds. This was announced. And of course, those who are most affected by price increases are the poor. Or those who consume more bun.

There are even reports from buns that some customers even asked for half a bun, at a time when prices are rising excessively in all items. Milk increased by 46% last month, while a medium-sized egg went from one pound … to two.

“We also reduce the water we drink. We have reached this point. “One day we buy something from the supermarket and the next day the prices change,” says one woman.

“The prices are tragic. We are looking for prices in various supermarkets. We used to eat three times a day. Now only morning – evening “comments another.

And while most Turks do not believe the official announcements of the statistical services, which keep inflation below 20%, almost all consumers believe that in the holidays or the first months of 2022 the price increase will reach 60%.

Erdogan is sabotaging… Erdogan

Aspirin proved the attempt of the Central Bank of Turkey to cut the momentum of the fall of the pound after another intervention of Erdogan.

In the morning, the central bank began selling foreign currency reserves with the pound writing gains of up to 8.5% at 12.4 against the dollar. The smiles did not last long. With insufficient arsenal and Erdogan constantly pouring oil on the fire, it was as if he was trying to extinguish a fiery front with buckets of water.

Just before 1 a.m., the exchange rate was again close to 13 pounds, and President Erdogan made sure with a new double intervention, billions of reserves went to… thunder.

Initially speaking to the Central Committee, he insisted on what are now called by all analysts “Erdoganomics”:

“What Erdogan said yesterday he says today. The whole world knows that I am bothered by high interest rates. “I was never in favor of interest rates, neither yesterday nor will I be in favor of interest rates,” said the Turkish president.

Leaving Parliament he put huge increases in the minimum wage of 2,825 pounds and especially for doctors he announced increases of 2.5 and 5 thousand pounds.

At the same time, he announced a program to create 50,000 jobs, cheap loans of 500 billion pounds for state-guaranteed companies, claiming that with its own economic policy, Turkey will see a growth rate of over 10% in 2022.

After all this, at 2.30pm the pound was found again in Tartarus with the exchange rate at 13.4 against the dollar, and analysts rang alarm bells.

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