Why Turkey Is Not Fixing It's Hyperinflation Problem
Economics Explained
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The Troubles in Turkey
In two thousand and 17 turkey discovered that it might have a bit of a problem on its hands. While government borrowing has been very modest, the private sector has been taking on more and more debt to capitalize on the rapid growth of the nation. Like all highly leveraged positions, the good times in turkey were great. This private sector borrowing created tremendous wealth very quickly. The unemployment rate in the nation sky rocketed to 14 %, which was the highest it had been since the introduction of the new currency. But president uduwan is convinced that a less valuable lyra in foreign exchange markets is actually a good thing because it will artificially make turkish exports more competitive as they recover from global
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