Today: 16 March 2025
6 May 2022
1 min read

Inflation Dogs Turkey

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)

ALSO READ: Gallery: Libraries at Oxford

Previous Story

UAE records 199 new Covid-19 cases

Next Story

Pakistan renews ties with Riyadh

Latest from Arab News

Palestinians Seek Help to End Israeli Siege 

The Palestinian Ministry of National Economy: “We remind the entire world that Israel is refusing to allow the entry of basic health and humanitarian needs, especially water, electricity, and food, to the

UAE Celebrates Emirati Children’s Day

The United Arab Emirates is celebrating Emirati Children’s Day today, reaffirming its dedication to nurturing a safe and supportive environment for the nation’s children. This annual occasion highlights the UAE’s commitment to

US pullback on Gaza plan welcomed 

The Hamas movement also responded positively, stating that the reversal was a welcome move….reports Asian Lite News Palestinian, Jordanian, and Egyptian officials have welcomed US President Donald Trump’s decision to abandon his

Can AI Transform the Future of India-GCC Ties? 

One area where AI can significantly enhance India-GCC cooperation is in the field of supply chain management and logistics. …writes Sudhanshu Kumar and Rashi Randev  Recently, a few months back, the External

Syrian leader signs constitutional declaration 

The declaration enshrines several fundamental rights, including freedom of opinion, expression, the press, and access to information.  Syrian President Ahmad al-Sharaa signed the draft Constitutional Declaration on Thursday, marking a significant step
Go toTop

Don't Miss

US-EU renew climate cooperation

John Kerry, the US’ Special Presidential Envoy for Climate, has

Charity auctions to support 1 Billion Meals

The auction supports the humanitarian goals of the 1 Billion