How Will Turkey's Election Shape the Economy?
Patrick Boyle On Finance
00:00
Turkey's Unorthodox Economic Theory Causes Inflation
The Turkish lira has lost 94% of its value against the dollar since 2008. President Erdogan's unconventional economic theory is rooted in Islamic economics. He blames foreign interference for rising prices and claims that lower interest rates lead to lower levels of inflation. While this idea does contain some truth these export gains come at a very heavy price for Turkish people. Many have turned to gold as a way to protect their savings.
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