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Turkey may be headed back to economic sanity

Turkey may be headed back to economic sanity
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Transcripts for BBCNEWS Verified Live 20240604 15:44:00

over one erdogan. we start in turkey, where the country s currency, the lira, has slipped to a new record low after the country s electoral authorities declared president erdogan the winner of the election run off. he will serve another five year term, taking his rule into a third decade. president erdogan has presided over turkey during a period of economic crisis. the country s official inflation rate is currently more than a0%, although it has been dropping in recent months. in his victory speech, he said battling the rising cost of living is turkey s most urgent issue, but that it is not difficult to solve. perhaps easier said than done, so how will he do this? it s a question i put to victoria craig in ankara. this is a question that economists have been asking for months ahead of their selection, have been asking for months ahead of theirselection, if have been asking for months ahead of their selection, if the president were to win another five years, what would it mean for t

Transcripts for BBCNEWS World Business Report 20240604 10:33:00

they bend to his whims, and that is how it has got to the situation we re in now, and as you say, all of this has an effect on normal people s personal finances, this has an effect on normal people s personalfinances, we have also seen, as a result of this unorthodox policy and uncertainty about whether he is going to put a new team in place at this point, expectations are that he will, but who the people will be is very much up who the people will be is very much up in air, and we could get signs or announcements of that as early as tomorrow, but likely in the next week or two. so it is a question of who he is going to put in place and how much they re willing to challenge him, and until we see, you know, more normal policies, we will to see economists expect more pressure on the lira, it has fallen 20% in the last year, it could fall another 25% against the us dollar by the end of the if these policies are not reversed. the end of the if these policies are not reversed- the end of t

Transcripts for BBCNEWS World Business Report 20240604 13:30:00

agreement to raise the us debt an agreement to raise the us debt ceiling has been reached but a big question, at what cost? welcome to world business report, i m ben thompson. let s start in turkey, where the country s currency the lira has slipped to a new record low after the country s electoral authorities declared president erdogan the winner of the election run off. he will serve another five year term taking his rule into a third decade. president erdogan has presided over turkey during a period of economic crisis. the country s official inflation rate is currently more than a0%, although it has been dropping in recent months. in his victory speech, he said battling the rising cost of living is turkey s most urgent issue, but that it is not difficult to solve. let s cross live now to our reporter victoria craig who s based in he turkish capital ankara. president erdogan says it is not

Transcripts for BBCNEWS World Business Report 20240604 10:43:00

george s square, where you can see thousands of people have started to gather, waiting for the bus full of thousands of people have started to gather, waiting for the bus full of the players to arrive, i think the the players to arrive, i think the council told people to paint the council told are town orange, it looks like they are doing a good job so far. the players have arrived at the stadium and will be travelling by bus to the town centre, where they will be brought on stage, and they will be spoken to by the mayor, and then they will be presented with the trophy. we have reporters in the throng there at the square, we also have a reporter who will be on the bus with the team, and i think we can bring him in now, tom williams is there, not quite on the bus, what are you doing? weill. tom williams is there, not quite on the bus, what are you doing? well, i can tell you the bus, what are you doing? well, i can tell you that the bus, what are you doing? well, i can tell you that

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