Turkey: Election likely to catalyze investment opportunity

A high inflation rate, currently at 51 percent, and a weak currency will likely force a more typical economic policy following Turkey’s general election on May 14. Foreign investors are especially enticed to a potential win by Turkey’s opposition leader, who has pledged to attract USD 300 billion in foreign capital to Turkey in the next few years. Current President Tayyip Erdogan has historically shied from increasing rates to curb inflation. However, a deteriorating economic landscape that has swayed large population segments to side with the opposition would also likely encourage a change in the country’s economic management.

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