Article: “Why Inflation Won’t Go Down in Turkey”
Why Inflation Won’t Go Down in Turkey (Article by Şeref OĞUZ)
It’s a well-known fact: “you can’t escape ignorance by printing diplomas, and you can’t escape poverty by printing Money”. Those in power live it up with the taxes they take from us, spending without limits. While citizens struggle with crisis, the rulers enjoy luxury.
For those who want the short version: inflation can’t fall because the public is constantly being misled. Even the most honest officials exaggerate their achievements. Exaggeration has become the “lie of honest people.” Forecasts are nothing more than wishes. And yes, the government actually needs inflation as a way to pay off its debts.
If you’re still here (if you haven’t decided to quite reading), let’s dig deeper.
There’s a state institution called TÜİK. Even this official but unreliable source can no longer hide that service inflation isn’t really slowing down. And it’s not just services. Food inflation here equals that of the entire OECD combined.
“Kamuflation” (government-driven inflation)— When the State Fuels Inflation (kamu means government/state, in this case)
I made up the word “kamuflation.” It describes how the state itself becomes a source of inflation. For example, while Mehmet Şimşek talks about tight monetary policy, the government raises energy and transport prices to record levels. Meanwhile, TÜİK camouflages the real inflation numbers.
Markets have become addicted to inflation targets. From the Central Bank to Şimşek, everyone talks about hitting a target—then they simply move the target higher when they miss. The Medium-Term Program isn’t about fighting inflation; it’s a system of transferring wealth from the poor to the rich. That’s why citizens don’t feel any relief.
Strategy: Two Questions, Two Answers
Why the obsession with exaggeration?
Because the economy is suffering irreversible damage—like COPD for the lungs. The government can’t steer the economy. With massive budget deficits and uncontrolled spending, even they don’t believe what they’re saying anymore.
Can verbal guidance work?
Only with a real strategy. That would require three things: a realistic diagnosis, inclusive solutions, and credible leadership. But instead of real diagnosis, we get fake prosperity. Instead of inclusive solutions, more resources go to cronies. And credible leadership? That’s completely missing.
Final Note: One Foot on the Gas, the Other on the Brake
Cutting public spending isn’t even on their radar. They refuse to stop transferring wealth to their allies. Multiple salaries in the public sector remain untouched. Luxury cars are renewed. They continue to work from glass towers. Off-budget funds keep ballooning. The economic engine is sputtering, on the verge of breaking down.
(Article by Şeref OĞUZ on ekonomim.com / translated by BTT)
Şeref Oğuz is a Turkish economist and “prominent” journalist / columnist known for his sharp economic commentary. He has worked in major newspapers such as Sabah, Tercüman, Günaydın, Meydan and Milliyet, holding senior editorial and economic director positions over the years. He currently serves as Chairman of the Board of Ekonomi Gazetesi and writes columns published on ekonomim.com. His articles often focus on inflation, government spending, fiscal discipline, and structural issues in the Turkish economy. Oğuz is widely followed in economic and business circles for his direct, sometimes critical tone toward economic policies.
Keywords: #inflation #Turkey #economy #government #spending #TUIK #policy #debt #wealth #public #strategy #budget #food #OECD #energy #transport #growth #trust #leadership #reform
