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.
Yavuz Sultan Selim Bridge
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The Yavuz Sultan Selim Bridge, also known as the Third Bosphorus Bridge, is a vehicular bridge over the Bosphorus strait, to the north of Istanbul's two older suspension bridges, the 15 July Martyrs B
Yavuz Sultan Selim Bridge in Istanbul
The view of the bridge with the seasonal turquoise waters.
A view of the bridge from the Bosphorus, south.
A view of the bridge at night.