Notable statements were found in the report "Problems and Analysis of the Industry" prepared by the Chamber of Mechanical Engineers (MMO) of Union of Chambers of Turkish Engineers and Architects (TMMOB). The report warned that “poverty is on the rise as we go to hyperinflation”.
FACE TO FACE WITH HIGH INFLATION RISK
In the report prepared using the data of the Ministry of Treasury and Finance, TurkStat, CB-SBB, BDDK, Central Bank, Eurostat, OECD, IMF, after the consumer inflation reached 36 percent and the producer inflation reached 80 percent at the end of 2021, the risk of consumer inflation reaching 70-80 percent was mentioned, especially in the first quarter of 2022.
POVERTY WARNING
It was stated in the report that the Turkish economy entered a process towards hyperinflation in 2022 due to the hardening inflation, stating that the rises in other wages, especially the minimum wage, would disappear in a short time, and it was warned that a great impoverishment would be experienced in the middle classes living in the urban and rural areas.