Turkey's hyperinflation explained through "Lego"s
What happened to 128 billion dollars of Turkish Central Bank reserves, explained:
https://www.youtube.com/watch?v=5cuO7...
With the pandemic, inflation rates are steadily rising almost everywhere in the world. Inflation is bad news for everyone. Because from the cheese we eat to the automobile we want to buy, it is something that creates the cost of living and increases the prices of all products. Inflation, which reached 9.1% in the USA, 7.6% in Germany and 11.89% in Brazil, alarmed these countries and they started to take measures to fight it. Turkey's inflation trajectory is very different from these countries. According to the figures announced by TurkStat, Turkey's inflation rate in July 2022 reached 79.6%.
Countries fighting inflation have tried to control inflation by raising interest rates. The AKP government under Erdoğan did the opposite. Their low-interest rate experiment is now leading to an infinitely rising graph and continues to devalue the Turkish Lira.
Producer Mert Köse
Editor: Medeni Sungur
Creative director: Mustafa Aslan
Videographer: Can Tezan
Design: Studio These Days
We would like to thank Kerim Rota for all his contributions to our content on the policies of the Central Bank of the Republic of Turkey so far."
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