Alwaght | News & Analysis Website

Editor's Choice

News

Most Viewed

Day Week Month

In Focus

Ansarullah

Ansarullah

A Zaidi Shiite movement operating in Yemen. It seeks to establish a democratic government in Yemen.
Shiite

Shiite

represents the second largest denomination of Islam. Shiites believe Ali (peace be upon him) to be prophet"s successor in the Caliphate.
Resistance

Resistance

Axis of Resistances refers to countries and movements with common political goal, i.e., resisting against Zionist regime, America and other western powers. Iran, Syria, Hezbollah in Lebanon, and Hamas in Palestine are considered as the Axis of Resistance.
Persian Gulf Cooperation Council

Persian Gulf Cooperation Council

A regional political u n i o n consisting of Arab states of the Persian Gulf, except for Iraq.
Taliban

Taliban

Taliban is a Sunni fundamentalist movement in Afghanistan. It was founded by Mohammed Omar in 1994.
  Wahhabism & Extremism

Wahhabism & Extremism

Wahhabism is an extremist pseudo-Sunni movement, which labels non-Wahhabi Muslims as apostates thus paving the way for their bloodshed.
Kurds

Kurds

Kurds are an ethnic group in the Middle East, mostly inhabiting a region, which spans adjacent parts of Iran, Iraq, Syria, and Turkey. They are an Iranian people and speak the Kurdish languages, which form a subgroup of the Northwestern Iranian branch of Iranian languages.
NATO

NATO

The North Atlantic Treaty Organization is an intergovernmental military alliance based on the North Atlantic Treaty which was signed on 4 April 1949.
Islamic Awakening

Islamic Awakening

Refers to a revival of the Islam throughout the world, that began in 1979 by Iranian Revolution that established an Islamic republic.
Al-Qaeda

Al-Qaeda

A militant Sunni organization founded by Osama bin Laden at some point between 1988 and 1989
New node

New node

Map of  Latest Battlefield Developments in Syria and Iraq on
alwaght.net
News

Foreign Shoppers Flock to Turkey after Lira Fall

Tuesday 21 December 2021
Foreign Shoppers Flock to Turkey after Lira Fall

Alwaght- Thousands of people from Bulgaria and the Balkans to the Turkish border province of Edirne for shopping everything from underwear to walnuts at a fraction of their cost back home, AFP reported.

Turkey's beleaguered lira has crashed under the weight of an unusual economic experiment Erdogan is conducting in a bid to boost support before elections due by mid-2023.

Erdogan has pushed the central bank to slash interest rates in fervently-held belief that this will finally cure Turkey's chronic inflation problem.

It has -- as economists had universally predicted -- done the exact opposite.

Consumer prices are climbing at an annual rate of more than 20 percent.

Some economists think this pace could accelerate in the coming months.

The lira has shed a third of its value since the start of November alone.

It was beginning to lose five percent a day until Erdogan announced new currency support measures Monday that managed to suspend the slide.

Erdogan is betting that a cheap lira will create exports-driven growth that puts Turkey on a path followed by China during an economic transformation that pulled millions out of poverty and created a new middle class.

He championed the poor when bringing his Islamic-rooted party to power against all odds in 2002.

Erdogan then surprised many by opening Turkey up to foreign investment and marshalling nearly a decade of vigorous growth.

 

Tags :

Turkey Lira Edirne Bulgaria Balkan Shop

Comments
Name :
Email :
* Text :
Send

Gallery

Photo

Film

Courages Individiuals like Sinvar are on the Rise

Courages Individiuals like Sinvar are on the Rise