Turkey's Currency Crisis is Erdogan's Doing

The sharp decline in the value of the Turkish lira is a consequence of the actions of Turkish President Recep Tayyip Erdogan, reports the British Financial Times, citing Sputnik Armenia.

"The currency crisis in Turkey was not caused by the country's economic problems; it is Erdogan's own doing," states the article. The media outlet provides arguments suggesting that Turkey's economy has stabilized and yielded a positive balance in August-September due to a significant increase in exports and the recovery of the number of foreign tourists.

The authors of the article believe that Erdogan's ratings are declining alongside a simultaneous increase in prices, which leads to a sharp decrease in the standard of living. "When Erdogan was first elected, his Islamist party promised a period of uninterrupted growth in revenues. Over the years, he tried to achieve this, partly through an IMF inherited program, and later through a construction boom, which has now begun to decline," the newspaper writes.

According to the analysts of the publication, the only question facing Turkey, which has great potential, is how much longer the president will govern and what damage he can inflict before leaving.