Economy in Turkey: “Electricity and natural gas price hikes on the way”
Prof. Dr. Şenol Babuşcu (a prominent / reputable economist) claimed that Minister of Treasury and Finance Mehmet Şimşek had given instructions regarding price increases for electricity and natural gas.
Prof. Dr. Şenol Babuşcu’s assertion that Minister of Treasury and Finance Mehmet Şimşek gave instructions has drawn attention on social media.
On his account Babuşcu shared following: “It is being discussed that Minister of Treasury and Finance Mehmet Şimşek has given instructions to transition to cost-based pricing for electricity and natural gas used in residences starting from April 1.”
Important note: As known, Turkey will hold local elections on March 31, 2024. President Erdogan who aims to regain control of Istanbul from the opposition in this election, may implement election-driven economic policies leading up to that date, in which case price hikes would be postponed. However, it is predicted that starting from April 1, citizens will likely face significant price hikes.
