Economics
Why Erdogan Is Flooding Turkey’s Economy With Credit
Turkey is rushing $50 billion of loans to almost 300,000 companies.
Tourists pose for photographs in Istanbul
Photographer: Kerem Uzel/Bloomberg
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In Turkish President Recep Tayyip Erdogan’s hunt for domestic enemies, even the invisible hand of the marketplace is getting cuffed.
With elections just over two years away and his approval ratings dipping below 50 percent, Erdogan isn’t leaving his political fate to the vagaries of the free market. Instead, he’s risking his country’s future stability by flooding the economy with credit to engineer short-term growth, analysts say.