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Turkey is undergoing financial woes unseen in decades, with the Turkish lira losing half its value last year due to the COVID-19 pandemic.
The Russia-Ukraine conflict also worsened the situation, pushing energy prices to new highs. Economists predicted that Turkey is likely to live with high inflation throughout 2022. IMAGE – People shop at a market in Ankara, Turkey, on May 5, 2022. Turkey’s annual inflation jumped to 69.97 percent in April, reaching a two-decade high, the Turkish Statistical Institute announced Thursday. The country’s consumer prices rose 7.25 percent month on month in April, according to data released by the institute.
(Photo by Mustafa Kaya/Xinhua)
