By Sada Garibova
January 19, 2022
While economic experts predict that Turkey’s new economic model will inevitably send the Turkish economy into a deep recession and impoverish its population, the regime is undeterred, and its commitment to new, unorthodox economic and monetary policies is unwavering. Given the historical pattern, a popular backlash is unlikely, and it would in any case not be allowed to imperil the survival of the regime. President Recep Tayyip Erdoğan is fully backed by the nationalist cadres of the state bureaucracy. The collapse of the lira may ultimately be more likely to pave the way for a more entrenched, authoritarian regime than to boost the prospects of the opposition.
By Michaël Tanchum
December 2, 2021
Soaring inflation and the record low value of the Lira have exacerbated Turkey's food crisis, which has been precipitated by the local and global economic shocks of the COVID19 pandemic and its 2021 aftermath. The severe nature of the food crisis has revealed something deeper and more systemic – Turkey's current food system cannot effectively cope with increased water scarcity and debilitating climate change. Turkey's promotion of exports, including cash crop agricultural exports, by allowing the Lira to slide in value has exacerbated the problem in several ways and may impede Turkey from implementing necessary measures to avert a larger food security crisis.
The Turkey Analyst is a publication of the Central Asia-Caucasus Institute & Silk Road Studies Joint Center, designed to bring authoritative analysis and news on the rapidly developing domestic and foreign policy issues in Turkey. It includes topical analysis, as well as a summary of the Turkish media debate.