Over 75 percent of Turkish people say economy in “bad” state - global poll

Economy in Turkey is in a “bad” state, according to 77 percent of the population, a latest global survey showed.

Inflation is also the biggest worry of 56 percent of Turkish people, Paris-based Ipsos research company found. 

Turkish lira lost around 44 percent of its value in 2021, and a quarter more in the first half of this year, after the central bank cut interest rates to 10.5 percent from 19 percent since late last year, despite surging inflation. The country’s annual inflation rate continued to rise for the 16th consecutive month to a new 24-year high of 83.45 percent in September, according to official data. 

Turkish president Recep Tayyip Erdogan insists on low interest rates, saying rate hikes are against his Islamic beliefs.

The “What Worries the World September 2022” survey of the multinational market research firm Ipsos tracked public opinion on social and political issues across 29 countries.

Turkey is one of the 12 countries which the inflation is their peoples’ number one concern. 

In Turkey, the worry about inflation is followed by poverty and social inequality by 33 percent, crime and violence by 27 percent, unemployment 26 percent and financial and political corruption by 24 percent.

75 percent also believe that things are on the wrong track, survey showed.