Turkish President Recep Tayyip Erdogan may not be allowed to keep his chair, here’s why

Istanbul []June 24 (ANI): Turkish President Tayyip Erdogan has dire chances of maintaining his position despite progress in the elections, as soaring and the continuous fall of the Turkish lira have worsened the country’s economy.

As the value of the Turkish lira continues to fall against the US , the depreciation has eroded the purchasing power of consumers and businesses, which has led to rising costs for food, healthcare, energy and other essentials driving millions of Turkish citizens. closer to poverty, reported policy Research Group.

In the 2019-20 financial year, the Turkish actually sold $ 128 billion in a “Save Lira” campaign that led to reserves shrinking to a record low of $ 7.55 billion instead of supporting the lira.

tried several times to lower interest rates to calm inflation and expand its economy, but the move ended as a disaster for the beleagured president as petrol prices rose to TL 9.67 from TL 7.76 in November 2021 and now stand at TL 19.80, with an increase of 105 percent.

In addition, President Erdogan played a key role in the conflict between and Russia by hosting grain transports and ceasefires, equipping Ukraine with drones and blocking and Finland from joining for their own convenience.

According to POREG reports, Turkey’s inflation reached almost 75 percent, the highest in any G-20 nation.

Due to the war in Ukraine and the subsequent disruptions in the supply chain, Turkey imports almost all of its energy needs, making it vulnerable to price fluctuations in the world energy market. In addition, Turkey has no insurance on the raw materials front.

Turkey’s poverty line for a family of four has risen to 16,052 lira four months ago, which is almost four times higher than the of 4,250 lira, the political research group reported.

At the same time, the hunger limit reached 4,928 lira, which is 675 lira more than the minimum wage. Unemployment according to Turkstat rose to 22.9 percent in January when the repression continued.

Whether, as Noam Chomsky says, “Erdogan is destroying the remnants of democracy in Turkey while in principle trying to create something like the Ottoman caliphate, with him as caliph”, is not relevant to this comment. Nor is the criticism that Turkey under Erdogan in recent years has experienced democratic backlash, corruption and media restrictions, POREG reported.

Erdogan’s party, Adalet ve Kalkinma Partisi (AKP), once lost control of Istanbul and Ankara for the first time in 25 years, especially in five of the country’s six largest cities three years ago.

Turkey has already slipped into a general election situation with the vote scheduled for early next year, but the growing mass dissatisfaction may not benefit Erdogan’s future prospects in the upcoming election, the report said. (ANI)

Source: sn.dk

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