Turkey To Find Solution To High Prices, Inflation Soon - Erdogan

MOSCOW (UrduPoint News / Sputnik - 08th January, 2022) Turkish President Recep Tayyip Erdogan has promised a prompt solution to the economic crisis, which has driven consumer prices 36% up over the past year.

"The problem of high prices, interest and inflation worries our citizens.

As soon as possible, this problem will also find its solution, as a solution to the exchange rate problem was found," Erdogan said during his speech at the opening ceremony of the Konya-Karaman high-speed train line.

Over the last year, the Turkish Currency suffered a sharp fall, losing over 50% of its value with $1 equating to 18.4 lira in late December 2021, opposed to 7.4 lira in January 2021.

In December, Erdogan unveiled a strategy to curb the lira's drop, The plan was criticized by the opposition, which accused the leader of economic incompetence dragging the country into a deeper crisis.