Wielki i szanowany Erdogan. Niech żyje wizjoner.
Economists say Turkish President Tayyip Erdogan may keep voters happy until the election, but will most likely fuel even higher inflation and could plunge the country into recession sometime after the election.
A few months before crucial elections that could reshape Turkey's domestic and foreign policies, the government is spending billions of dollars in state money to support President Tayyip Erdogan and his ruling party at the ballot box, while issuing a series of legal threats to weaken those who seek to unseat him, New York Times said on Thursday.
In an article by Istanbul bureau chief Ben Hubbard, NY Times said Erdogan’s government has introduced vast spending for initiatives to insulate voters at least until the election from the economy’s troubles, shaped largely largely because of Erdogan’s unorthodox financial policies
Since late December, Erdogan has increased the national minimum wage by 55 percent; bolstered the salaries of civil servants by 30 percent; expanded a program to give subsidized loans to tradesmen and small businesses; and moved to abolish a minimum retirement age requirement, allowing more than 1.5 million Turks to immediately stop working and to collect their pensions.
GOVERNMENT SPENDING SPREE
The recent government spending spree adds to other initiatives introduced last year: a cash support program for low-income families; government forgiveness of some debt; and state-funded accounts to protect local currency deposits from devaluation.
But many economists say this public spending will most likely fuel even higher inflation and could tip the country into recession sometime after the elections.
A former central bank official and finance expert Ugur Gurses told the NY Times that Erdogan thinks it is worth it if he is going to win.
#polityka #erdogan #turcja
Economists say Turkish President Tayyip Erdogan may keep voters happy until the election, but will most likely fuel even higher inflation and could plunge the country into recession sometime after the election.
A few months before crucial elections that could reshape Turkey's domestic and foreign policies, the government is spending billions of dollars in state money to support President Tayyip Erdogan and his ruling party at the ballot box, while issuing a series of legal threats to weaken those who seek to unseat him, New York Times said on Thursday.
In an article by Istanbul bureau chief Ben Hubbard, NY Times said Erdogan’s government has introduced vast spending for initiatives to insulate voters at least until the election from the economy’s troubles, shaped largely largely because of Erdogan’s unorthodox financial policies
Since late December, Erdogan has increased the national minimum wage by 55 percent; bolstered the salaries of civil servants by 30 percent; expanded a program to give subsidized loans to tradesmen and small businesses; and moved to abolish a minimum retirement age requirement, allowing more than 1.5 million Turks to immediately stop working and to collect their pensions.
GOVERNMENT SPENDING SPREE
The recent government spending spree adds to other initiatives introduced last year: a cash support program for low-income families; government forgiveness of some debt; and state-funded accounts to protect local currency deposits from devaluation.
But many economists say this public spending will most likely fuel even higher inflation and could tip the country into recession sometime after the elections.
A former central bank official and finance expert Ugur Gurses told the NY Times that Erdogan thinks it is worth it if he is going to win.
#polityka #erdogan #turcja
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