In President Erdogan’s attempt to persuade a majority of voters by boosting their purchasing power, shareholders are likely to be among the losers.
(Photo: Bloomberg)
Istanbul Anyone who invested in Turkish stocks a year ago has been able to more than double their investment, even in euros or US dollars. 116 percent gain in hard currency, while the Dax gained 8.5 percent and the MSCI World lost almost ten percent.
But anyone who entered the Turkish stock market at the beginning of 2023 had to cope with a loss of 14 percent. From 5661 points on January 2nd of this year it went down to 4846 points on Friday.
This is not only a consequence of the earthquake disaster in south-east Turkey, but also of the political manipulation of the national currency, the lira, which was far too weak at first – and is now too strong.
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