While the economic crisis seriously affects the citizens in every field, the inconsistent policies of the government deepen the crisis even more. Especially, President Recep Tayyip Erdogan's statements about the economy backfired in the market, while many of Erdogan's statements caused an increase in the exchange rate and a depreciation of the Turkish Lira (TL). The situation in question caused Erdoğan to abandon his rhetoric of "interest is the reason, inflation is the result", which he used to say at every opportunity.
“THEY CONVINCED ERDOĞAN”
Due to the wrong policies carried out in the economy, Turkey has reached the highest inflation figures in recent years. While annual inflation announced by Turkish Statistical Institute (TURKSTAT) reached 73,5 percent, inflation was calculated as 160,7 percent according to the Inflation Research Group (ENAG). While the aforementioned bad picture was evident, Erdogan stopped saying "interest is the cause, inflation is the result" theory after the rise of inflation. It is stated that Justice and Development Party (AKP)’s economic staff convinced him to drop his rhetoric at their meeting with Erdogan two months ago. After the meeting, Erdogan does not use the rhetoric "interest is the cause, inflation is the result".
ECONOMY MESSAGES IN TEXTS REDUCED
It is noteworthy that Erdogan did not touch upon many issues related to the economy after his meeting with the AKP staff. In addition, messages about the economy were reduced in Erdogan's speech texts. It is stated that the reason for this situation is the increase in the exchange rate and the backlash in the market due to the statements made by Erdoğan.