Turkish currency plummets over anti-European measures
The Turkish Central Bank says inflation in Turkey will remain above 12 percent this year.
The central bank has estimated inflation to fluctuate next year as well, saying that in 2021, inflation could reach 9.4 percent.
According to a report by the Central Bank, these inflation estimates are based on the hope that a second wave of the coronavirus will not hit Turkey. If the virus re-emerges in the country, inflation cannot be stopped
The Turkish lira is depreciating sharply due to rising political tensions between Turkey and Europe. At present, the US dollar is equal to 8 Turkish lira, while the Turkish lira has depreciated sharply this year.
Experts say that if Turkey’s exports do not increase, the pressure on the Turkish currency will continue.
It is clear that Turkey continues to receive constant threats from European countries, while bad relations with Greece on the Libyan and Eastern Mediterranean issues are being cited as the main reason for the decline in the Turkish currency.