Turkey Inflation Slows to 64% In Boost to Erdogan
TimeAPR 2023
The Spin
Narrative A
Though the path ahead is challenging, Erdoğan's adoption of a policy to raise interest rates is a sign his government is doing its best to promote economic growth. Additionally, the president's new picks for the finance and treasury ministry, as well as the new central bank chief, will ensure Lira regains its pre-2014 value. Indeed, the lira's value has already sharply improved.
Narrative B
Turkey's economy will never jumpstart with Erdoğan in power, as his disastrous economic policies have devalued the currency and squandered foreign exchange reserves. Raising interest rates could tackle inflation, but it's unclear if Erdoğan has the tools and willpower to weather the economic storm and turn around the crisis-ridden country.