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As Turkey Enters 2019, Its Economic Woes Are Never Far Away

Nov 28, 2018 | 13:30 GMT
Vendors sell nuts as people shop under a banner reading

Vendors sell nuts as people shop under a banner reading "An End to Inflation" in Istanbul's Eminonu neighborhood on Nov. 6, 2018. Inflation has become a major problem in Turkey since the country's economy tanked in 2018.

(OZAN KOSE/AFP/Getty Images)

Turkey has endured more than its fair share of economic hardships in 2018, but its annus horribilis might portend even greater trials and tribulations in the year to come. Inflation reached record levels, going as high as 25 percent in September, a month after the value of its currency dropped to the unprecedented level of almost 7 liras to the dollar, striking investors with fear. Watching on wearily, consumers could only express their despair as the prices for staples soared. And far from shoring up confidence in the economy, the government and its plans to tackle the crisis simply invited derision....

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