Today news
About the same in other media
Turkey’s Economic Turmoil Sends Desperation and Inflation Soaring
Reading now: 302
ISTANBUL—The two-decade economic boom that lifted millions of Turks into the middle class is beginning to unravel, threatened by a currency crisis that has people lining up for subsidized bread, cutting back on meat and fleeing for a better life in Europe.
The Turkish lira has lost as much as 45% of its value this year, making ordinary Turks poorer. The pandemic-era consumer-price increases that have plagued economies across the world are supersize in Turkey, where inflation stands at more than 21%. People here are rushing to trade their shrinking wages for dollars and gold, are eating out less and are having more trouble finding imported goods, including medicine.
Read more on wsj.comAbout this in other media
Turkey’s Borrowing Costs Soar as Crisis Enters New Phase wsj.com /2 years ago
Turkey’s Currency Crisis Slams the Nutella Global Supply Chain wsj.com /2 years ago
Bitcoin wobbles below $46K as 1 BTC passes 800K Turkish lira for the first time cointelegraph.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
