Economy

Economy

Pact For Pluralist Democracy Needed In Post-Erdogan Turkey

Amid deepening economic crisis, domestic and foreign policy disarray, and the decline of public support for Turkey’s strongman president, discussions on what a Turkey without Erdogan could/should look like are becoming more prevalent. Still, many experts agree that the end of Erdogan’s rule in and of itself wouldn’t usher in an era of democracy, especially without the opposition’s adoption of a pluralist approach.

The “Great Recession” vs the “Great Lockdown”

Along with massive consequences for public health, the global pandemic has taken a toll on the world economy. Due to mandatory lockdowns, economic activity has been all but crippled, barring the operations of most of non-essential businesses.

What do Macroeconomic Indicators say about Turkey’s Economic Struggle?

The pandemic-induced economic crisis and subsequent contractions in global demand will worsen Turkey’s economic outlook, as the AKP’s populist policies and unorthodox approach towards economics pose an increasing risk to the Turkish economy. As a direct result of the government’s intervention in market mechanisms, chronic inflation and the continuous devaluation of the Turkish lira will constitute a nearly insurmountable challenge for the AKP in the short-term.

Turkish Economy Faces more Headwind amid COVID-19 Pandemic

The COVID-19 pandemic and its economic fallout appear to have compounded Turkey’s economic woes. As trade falls, tax revenue decrease, and the Turkish lira tumbles, the Central Bank appears to be near out of options