Part 8/9:
In mid-2023, Turkey’s central bank began to reverse its previous course, significantly raising interest rates from around 8% to over 45% to stabilize the LRA. While this move has helped slow inflation, the damage incurred over the past few years remains profound. Trust in Turkish institutions has waned, and millions continue to struggle with basic living expenses.
Moving forward, Turkey's recovery will require years of consistent economic policies, bolstered investor confidence, and pragmatic approaches to currency stabilization and inflation.