Posted inEuropean Union, Middle East, Russia, Turkey, World

Turkey’s economy heads blindly towards stagflation

Turkey, in the midst of a currency crisis which is quickly becoming a private sector debt crisis, appears headed toward stagflation — high inflation coupled with a contracting economy. The country’s inflation as measured by the Consumer Price Index (CPI) rose 2.05 points in August to nearly 18% — the highest level seen since 2003 […]

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