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The economic situation is worsening in Turkey

2021-11-24T12:22:58.352Z


Damascus, SANA- The economic situation in Turkey is deteriorating day by day as a result of the failed internal policies of the Turkish regime


Damascus-SANA

The economic situation in Turkey is deteriorating day after day as a result of the failed internal policies of the Turkish regime, which prompted tens of thousands of Turks to take to the streets, demanding the resignation of the government, the resignation of President Recep Tayyip Erdogan, and the holding of early parliamentary elections.

The economic measures taken by Erdogan’s regime in recent weeks, including the sharp cuts in interest rates imposed by the Central Bank under pressure from Erdogan himself, caused the collapse of the Turkish currency to the lowest level in its history, which led to a marked deterioration in the living conditions of Turks, and this was a direct cause of the huge protests that took place in the city Istanbul yesterday.

Tens of thousands of Turks, during demonstrations in Taksim Square in Istanbul, denounced Erdogan’s policies and accused him of stealing the people’s money. The Twitter hashtag “resignation of the government” was issued in an attempt to get rid of the grip of the Turkish regime, which has now controlled all the joints of the state, which led to a lack of credibility and independence in the sectors of the judiciary and the economy and to The occurrence of a real crisis, embodied in the social practices of intimidation and the suppression of freedoms, with the continuation of the arrest campaigns launched by Erdogan to get rid of opponents of his policies, and from the economic point of view through the tension of the markets, the flight of investors and the increasing severity of the financial crisis.

The Wall Street Journal said in the context of its analysis that the economic crisis in Turkey has entered a new stormy phase with the collapse of the Turkish lira to a new record level and Erdogan's insistence on his policies and his confusion at the external level in an attempt to find new investors.

The newspaper pointed out that the Turkish currency fell by 18 percent on Tuesday, which threatens to further turmoil the Turkish economy and undermine confidence in it. To push the inflation rate, which is currently around 20 percent, to a higher level, further harming Turkish families.

The British Guardian newspaper, in turn, said that the Turkish lira fell by 40 percent this year due to a series of interest cuts by the central bank and Erdogan's change of bank governors several times, which led to a state of anxiety in the markets.

Analysts considered Erdogan's decision last October to dismiss 3 members of the Central Bank's Monetary Policy Committee and appoint two new members and a deputy governor as new evidence of political interference by him, who previously described himself as an enemy of interest rates.

In parallel with the worsening economic crisis that Turkey is witnessing and the popular upheaval from Erdogan's failed policies, international criticism of the repressive and authoritarian practices carried out by the head of the Turkish regime to get rid of his opponents is mounting.

In this context, the International Institute for Democracy and Elections confirmed that Turkey was classified as one of the countries in the most backward of democracy, while the European Court of Human Rights condemned the Turkish regime’s arbitrary detention of 427 judges and prosecutors, five years after the coup attempt that this regime used as a pretext to launch a campaign of arrests and dismissals. from working against thousands of opponents of his policies.

Basma Kanon

Source: sena

All news articles on 2021-11-24

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