Dasar Ekonomi Bunuh Diri Erdogan : Gaji Minima Naik 80%, Inflasi Sekarang Sudah 80% !!

• Last week, Erdogan hiked minimum wage 30% 
• six months ago he hiked minimum wage 50% 
• move (creates) dangerous wage-price spiral
• make matters even worse

• Erdogan's unorthodox economic policies inflamed crisis
• crashing lira makes imports much more expensive
• Erdogan ditched the rules 
• told central bank to cut interest rates 
• world's central banks increasing interest to tame inflation
• Turkey doing exact opposite
• Interest rates remained 14% since December.
• Erdogan defended his policy
• arguing lower rates will bring down inflation
• blamed economic problems on foreign interference.

 

Turkey's inflation 80%, food prices double, lira crashes
Turkey's annual rate of inflation hit 80% in June - highest in two decades

• Consumer prices increased 78.6% last month 
• driven by soaring cost of food, drink, transportation
• Food prices doubled in a year, cost of transport up 123% 
• Turkish population of 84 million hit hard
• Turkey suffered rampant inflation 
• lira lost more than 20% value since start of 2022

global commodity prices, energy, agricultural products fueled inflation 
government reducing sales taxes, providing subsidies.
Russia, Ukraine, slowdown in Eurozone, UK weigh on Turkish exports

My Comments:

My advise to all Malaysians, especially those who can read English and the financial Press please take note of what is happening in Turkey. I hope the people in Putrajaya will also keep track of what is happening in Turkey. 

For those of you who have been reading this blog, I have been highlighting Turkey since 2014 when Erdogan became their 21st century reincarnation of the khalifah Uthmaniyah.  

 The views expressed are those of the writer and do not necessarily reflect those of MMKtT.