The graph above shows the annual inflation rates in Turkey for the previous 10 calendar years, from 2012. For additional years, see the historical inflation rates. (Inflation Tool/Turkey Inflation Rate (Updated (Last updated: 2022-06-20))
Inflation is accelerated in Turkey very fast. In 2013 it was 7,4%. In 2015 inflation was 8,81%. And, then in 2020 inflation in Turkey was 14,6%. But in the two last years, inflation in Turkey accelerated very fast.
But in the year 2022, inflation has blown into hands. In the year 2021 inflation was 36,08%. And finally, in the year 2022, the inflation rate rose to 73,5%.
So there is something that happened this year. Inflation is one of the sensors that tell about society. If there is no incoming money, that thing means that something whips out that money.
This means there is some kind of problems in that country. Inflation is the mark that money escapes from some country. And inflation is the symptom that something is wrong.
One of the reasons for the bad economic situation in Turkey is the populist government. The populism and asking for support from old-fashion Islamists afraid people. And especially educated people. That thing causes the brain leak to other countries. And another thing is that a populist government will make foreign investors escape from that country. Because there is always the risk, that the government nationalizes the investments.
The bad economic situation causes also increases the crime rate, and things like corruption are also problematic things. When people are talking about the violence in prisons or police station. That thing is bad for business. Today the image of the products plays a big role in marketing. And if there are problems with society or government that thing always decreases the popularity of the products.
The things like tourism are also decreasing because of afraid that some blog writings cause problems for people who visit that land. The populist attitude that the nation must not care about the loans might seem a very good thing. But the problem is, who will loan money to the government that doesn't pay those things back?
The better economical situation requires that there is also some other industry than Kebap restaurants. Things like rejecting to pay loans back might help the nation in a short period. But in the long period is needed some other type of solution is to make the economy better. And one thing is to make the government less populist.
Image: https://www.inflationtool.com/rates/turkey#:~:text=The%20current%20inflation%20rate%20in%20Turkey%20is%2073.50%25%2C,the%20last%2012%20months%20ending%20in%20May%202022.
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