Why Turkey Is Not Fixing It's Hyperinflation Problem
Economics Explained
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Turkey's Inflation Crisis
Decades of double digit inflation meant that the leara's face value was extremely low. Turkey does not have huge reserves of oil or gas, but they are small and don't even meet the demand of the country itself. As such, turkey is a net importer of fossil fuels. While this means that the country misses out on easy oil riches, it can actually be a blessing in disguise. It removes the temptation to just become an oil state. This new monetary stability, alongside relative political stability, was what allowed the nation to grow so rapidly in the past two decades.
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