In Turkey, with the pound flirting with new historical lows, citizens are in despair and go so far as to sell even basic electrical appliances from their homes to make ends meet. Erdogan, however, sees foreign attacks on the Turkish currency and invokes Allah to save the economy.
“I think we will repel these attacks on the currency. As I always say, if Allah wills, this too will overtake us. “Let everyone know this,” said the Turkish president.
Erdogan evangelizes a “new economic model” with an unorthodox prescription, “a national model that has nothing to do with foreign prescriptions imposed on Turkey.” The President of Turkey spoke for the fifth time about the economy on Wednesday, and the pound depreciated by 2.5% …
According to Manolis Kostidis, he referred to a “thousand-year struggle” saying that “we are on the threshold of a new proud page of history from the battle of Manzikert, we will increase employment”. The economic model does not work out, analysts say, Erdogan insists and the pound falls.
“I firmly believe that high interest rates are a policy that makes the rich richer and the poor poorer we can never allow that. We will continue on this road, on this path “he claims.
However, the numbers are relentless: Inflation officially rose to 21.6% in November, while informal inflation exceeded 58%, according to analysts. The basic salary collapsed at 185 euros and Turkey, according to the OASA, is first with a difference in the annual increase of food prices by 28.8% in September and by 27.4% in October.
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