COVID-19 pandemic in Turkey
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The COVID-19 pandemic in Turkey is part of the ongoing pandemic of coronavirus disease 2019 caused by severe acute respiratory syndrome coronavirus 2.
Pasta shelves at a supermarket in Istanbul after panic buying
Toilet paper shelves in the same store
Face masks sold in a vending machine in Samsun, for 5 Turkish lira each
Social distance warnings in a mall's toilet.
The Turkish economic crisis, also known as Great Turkish Depression, is a financial and economic crisis in Turkey. It is characterized by the Turkish lira plunging in value, high inflation, rising bor
Previous economic growth had been led by fiscal and monetary stimulus to the construction industry, resulting in a huge backlog of unsold new houses, and unprofitable grand projects like the Yavuz Sultan Selim Bridge; its operator is guaranteed 135k passenger car-equivalent of daily toll revenue.
Recep Tayyip Erdoğan's unorthodox views on interest rates are stated to be one of the most important causes of the crisis.
The Turkish Lira regained a significant proportion of its losses within the three months after July 2018. According to the models by IMF and International Institute of Finance made at the time, the lira was getting closer to the fair value but was still slightly undervalued.
Mehmet Şimşek is credited with having tried but failed to bring back orthodoxy to Turkish interest rate policy.