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11 March 2019 Turkish economy enters in recession

On 11 March, the Turkish Statistical Institute published an economic report in which President Erdogan’s Turkey slides into economic recession. In particular, the document reports that in the 4th quarter of 2018 the GDP decreased by 3% marking the second quarter of decrease (the 3rd quarter of 2018 the Turkish GDP lost 1.6%), the exact definition of a recession. The causes of this economic stop are probably the trade war with the United States that provoked the fall of the Turkish currency: during the last year, the Turkish lira fell by 30% against the dollar which makes the imports more expensive for Turkish people. On 31 March Turkey will hold the local elections in which Erdogan’s party aims to gain Ankara and Istanbul. The major issues of the electoral campaign are the rise in prices and the unemployment rate in the country.