Erdogan and Turkey’s nightmare is coming in September and nobody can do anything about it.
Turkey: Erdogan’s nightmare is coming in September and is expected to become more dangerous as time goes on as his position is at risk.
“When tourism income is cut at the end of summer, inflation will rise with the exchange rate!”, note Turkish economists.
In fact, the increase in Turkish inflation, which amounts to 78.62% per year according to the Turkish Statistical Institute (TUIK) and 175.55% per year according to the independent Inflation Research Group (ENAGrup), is due to wrong economic policies of the goverment.
Evaluating the data on inflation announced by TURKSTAT for June and ENAGROUP, which estimates it at about double, the economist Dr. Ozgur Demirtas, former Central Bank chief economist Hakan Kara, economist Evren Devrim Zeliut and fellow economist Selcuk Getser wrote on their Twitter accounts:
Devrim Zeliut: There is no hope left for the AKP! Go out as much as you want, talk on TV, comment, rip, it’s too late now… When incomes are cut from the end of the summer, inflation will rise with the rate!
Hakan Kara: The goal of the surreal experiment, which began with the interest rate cut in September, was to close the external deficit and reduce inflation. The result was the fastest accelerating inflation and the highest external deficit in recent history.
Dr. Ozgur Demirtas: Annual inflation is 175 percent, you read that right 175 percent. The financial mistakes made are unforgivable. Despite all the warnings, despite all the warnings, despite all the experts… Don’t do it brother, don’t do it. These are my feelings of anger, sadness, confusion, boredom, increasing greed, explosion, sadness, anger and frustration. If I said it to a stone, it would understand.
Seljuk Getser: Inflation according to Turkstat is 78 percent. Did you believe it; For those asking what about the dollar… wait and see.
As you understand, in September the situation in the Turkish economy will be dramatic.
Once the money from tourism and especially the valuable foreign exchange runs out, Turkey will have a hard time.
That’s when Recep Tayyip Erdogan will become more dangerous. Since now he will be fighting for the… chair. And a heated episode with Greece will change the situation inside Turkey.
