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The "Turkish government deficit" threatens the lira with a major collapse

A Turkish economist recently predicted that the lira crisis will continue during the new year, pointing
out that it could fall sharply to around 7.5 US dollars.

The IMF forecasts are more pessimistic because they do not rule out a 10.21 pound depreciation against the dollar, which means a worsening economic crisis in the country, Mohieldin said.

"The Turkish central bank is losing investor confidence," he said. "This impression would exacerbate currency losses, which have fallen in an unprecedented way over the past year."

In August, the Turkish lira fell to 7 against the dollar, but recovered relatively later, reaching a level of 5.29 liras at the beginning of the new year, 1.5 times higher than in early 2018.

The Turkish lira fell dramatically in 2018 due to a diplomatic crisis with Washington following the arrest of US priest Andrew Branson, but the release of the cleric did not end the currency crisis.

The head of the Republican People's Party, Kemal Kiligdaroglu, sees the Turkish economic crisis not only as a result of US sanctions, but much deeper because of the government's inability.

The International Monetary Fund (IMF) predicts inflation in Turkey will reach 15.5 percent in 2019, but the Turkish researcher is expected to reach 18 percent, according to the Turkish website "Ahwal".

The fall in the lira has led to an increase in the import and debt bill, which is being paid in dollars, although tourists are encouraged to spend more.

The "Turkish government deficit" threatens the lira with a major collapse
The "Turkish government deficit" threatens the lira with a major collapse

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