Inflation in Turkey is over 50%, according to official statistics published in March. Inflation reached a dizzying peak of 85% in October, a level not seen since June 1998.
The country has been accustomed to the ups and downs of its currency since 2018. But in March, the Turkish lira fell to a historically low level against the dollar.Experts attribute this crisis to the choices of Recep Tayyip Erdogan. The head of state maintains - against all economic evidence - that high interest rates fuel inflation. He has prompted him to reduce these rates, while calling on the Turkish central bank to guarantee savings.