Hi guys! Apologies for my ignorance, but I recently came across Turkey’s ludicrous inflation rate (70+%). I know that their currency TL has been depreciating since the past 5ish years. Can someone please explain what happened 5/6 years ago? Why do things keep getting worse, at least on paper? At such crazy inflation, how are people affording food? Thanks!
In: Economics
As a Turkish person most straightforward answer is presidency referandum happened. Current president took all the power and then everything went downhill.
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