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"Limited Inflation" Expected in Turkey

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Things are getting worse economically for people in Turkey and that means that the poor especially are going to suffer in this region as the fiat currency tumbles.

This isn't the first time we have seen a country face such a crisis with inflation and it no doubt won't be the last.

Turkey's finance minister has said that they see inflation in the economy as being 'limited' and that it might peak at 40% inflation this year in Turkey.

Turkey Inflation Surpasses 30%

Inflation in Turkey just recently grew past 36% and that is why some estimate that it might keep going to around 40%, not only that but once it reaches that point of 40% inflation it is expected to possibly peak when at this point, it might only be a limited run and perhaps it might come back down later on some have suggested.

In 2020 it was estimated that perhaps millions of people were below the starvation poverty line in Turkey and this economic crisis is only going to worsen that situation for many.

Millions of citizens are said to be on the verge of poverty in the region because of the economic crisis. Thousands of people who are in poverty or facing that risk have taken to protesting and expressing their discontent with current leaders and their policies which some of them blame for putting them in this situation in the first place.

Sources: https://www.reuters.com/markets/rates-bonds/turkish-lira-dips-minister-sees-more-forex-converted-lira-2022-01-24/ https://www.reuters.com/world/middle-east/turkey-inflation-surges-361-amid-lira-crisis-highest-since-2002-2022-01-03/ https://www.bloomberg.com/news/articles/2022-01-22/turkey-said-to-see-inflation-rate-peaking-at-about-40-in-2022 https://www.nytimes.com/2021/12/14/business/economy/turkey-inflation-economy-lira.html