Government relies on strong lira and more consumption

Turkey

Prices in Turkey have been rising sharply for years.

(Photo: imago images/Pacific Press Agency)

Istanbul The Turkish government is changing its currency strategy: instead of a weak lira, it is now opting for a stronger currency and more consumption. Before the elections in May, millions of Turks will benefit from a stronger currency in real terms. You could use it to boost national consumption – and propel President Erdogan into the next term of office.

It is fitting that the government announced a discount on natural gas prices on Friday. In the middle of the winter season, this could reduce monthly utility bills by 13 to 17 percent. In a country where far more natural gas is used for cooking and heating than in Germany, for example, that makes a big difference.

The elections in Turkey are expected to take place on May 14th. According to the constitution, the parliament and the president are elected directly by the people. In polls, head of state Erdogan is behind potential competitors, and his AKP’s parliamentary coalition could also fall short of an absolute majority.

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