Why is Recep Tayyip Erdoğan allowing the Turkish Lira to plunge?

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The Politicus
Nov 23, 2021 05:20 PM 0 Answers
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If you have been into Turkish Lira recently, you would be shocked you see that the Turkish Lira's value has been lost more than two times as compare to its value 2 years ago. Now, there have been several factors contributing to its freefall, but the most important one has been the decrease in interest rate, a decision taken by Erdoğan which suffered fierce backlash from local public but he still stood firm by what he has already decided. People are losing hope in Turkish Lira, but it doesn't appear to concern him at all. People are calling Turkey a to-be failed state like Lebanon, but he has some other plans in mind.

What are the benefits of what Turkey is currently doing in relation to the Lira?

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  • November 23, 2021