Turkey: Unraveling Lira & Turkish Economy

The economy of Turkey. Turkey is a G20 member nation and the 20th biggest economy in the world by GDP. The country's currency Lira faced issues in the recent years.

Known for narrow waist glass tea, hard to get Dondurma ice-cream, mystic Sufi Whirling, a history of the Ottoman Empire, and the majestic Aya Sofya, Modern-day Turkey was founded on the principles set by Mustafa Kemal Atatürk, who implemented social, political as well as economic reforms and as a secular system.

The video discusses how Turkey imports a lot more than it exports that resulted in a “trade deficit” also known as a “negative balance of trade” which in turn put currency on the country's currency Lira, and decline in the purchasing power of the currency resulted in inflation.

The video also discusses Turkey's political leadership and president Recep Tayyip Erdogan's response to this "Debt-Currency Crisis" and how he refused to increase interest rates in order to stop the rising inflation.

The video also discusses tourism, and food options including Turkish coffee, Turkish kebabs, Turkish Tea, scrumptious Baklava, and Kumpir. The video also highlights medical tourism followed by some behavioral economics The video further discusses corruption, refugees, agriculture, oil and fuel consumption, labor force participation rates and tertiary education attainment.

You can also watch videos on economy of other countries:
Economy of Italy: https://youtu.be/PGm0ajXGmr4
Economy of France: https://youtu.be/Iv2NQuCuRg0
Economy of Germany: https://youtu.be/h8_dFMwFA4A

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Видео Turkey: Unraveling Lira & Turkish Economy канала Economic Raven