Middle East | Turkey's economy heads blindly towards stagflation

Turkey’s economy heads blindly towards stagflation

Although the country's inflation hit a 15-year high in August, the government has yet to face the reality of its desperate financial predicament

Istanbul, September 5, 2018 11:41 AM (UTC+8)
Pedestrians pass by a foreign exchange office in Istanbul on 9 August as the Turkish lira continues to lose value against major international currencies and inflation skyrockets. Photo: Diego Cupolo/NurPhoto
Pedestrians pass by a foreign exchange office in Istanbul on 9 August as the Turkish lira continues to lose value against major international currencies and inflation skyrockets. Photo: Diego Cupolo/NurPhoto
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