You learn how to deal with crises.”But for Turkey the currency crisis, the second in less than two years, combined with the pandemic, presents a heightened risk of economic collapse. And it helps explain why Bulgurlu believes that Turkey will skirt disaster, just as it has in the past. “Turkey always seems to get through these things on a knife’s edge.”Turkey’s economic fate has geopolitical ramifications. From 2000 to 2013, average incomes more than tripled, poverty fell by half, and Turkey entered the ranks of middle-income countries. In addition, many foreign investors lost faith in Turkey during the last crisis, in 2018, meaning there is little demand for lira assets.

Source: bd News24 August 28, 2020 15:00 UTC