Economy in Turkey: Sky-rocketing “inflation has turned 200 lira banknotes into 20 TL banknotes”

Turkey continues to struggle in the most painful economic crisis it has ever experienced due to the major mistakes made by the current government, especially in the last 5 years (undoubtedly earlier, as well).

We have consciously used the words hurtful because it hurts the lives of people in the middle-income and low-income groups, in a painful manner. However, if you look at the ruling party and its leader in particular, the important point is “Turkey is growing fast and uninterrupted?” Whether citizens are almost starving to death or not, who cares?

Down below we are sharing a very striking, plain / straight to the point message shared by an economist/opinion leader on Twitter (we still prefer to use this name) on this subject, regarding the point of how inflation has made citizens miserable. This short text probably describes the situation in Turkey, in the best way possible.

Is there any need for any additions? We suppose not.

Message on Twitter by Mr. Şeref OĞUZ
click link to go to author’s TW account: https://twitter.com/serefoguz

“200 lira banknotes that look like 20 liras may be different in quantity, but in terms of quality, the 200 lira banknote has taken on the appearance of 20 liras. In our country, which is the world leader in inflation based on purchasing power, our lira has started to take its place in the list of the most disreputable currencies.

In the last year, an extra 0 has been added to all labels. We can see this in the prices. Even 1 lira, the largest of the metal coins in our pockets, can almost buy nothing. 50, 25, 10 and 5 kuruş have become nostalgic metal pieces.

The most dramatic transformation is experienced in the way we look at the banknotes in our pocket. The purchasing mobility of those who carried 20 liras last year can now only be achieved with 200 liras.

Especially those who change the labels like crazy, using inflation as an excuse, have reduced our view of 200 lira to a tenth. Due to this high inflation, 500 lira banknote will soon be inevitable.

How do you view 200 lira?”