Thomas Hernandez
The rising cost of living has become a burden for many people, making the economy a central issue in the elections.
Turkey has struggled to reign soaring inflation. It hit 85.5 percent in October – the highest in more than two decades.
It is about half that now.
Turkey’s currency, the lira, has also been suffering. In five years, it’s lost nearly 80 percent of its value against the U.S. dollar.
The drop has been blamed on interest rate cuts.
But the government says interest rate reductions are driving an uptick in exports and investment.
The economy grew by more than 5 percent last year, compared to 2021.
And, unemployment is down. The jobless rate dipped to 10 percent last year from around 14% in 2020.
Al Jazeera’s Sami Zeidan reports from Istanbul on the unusual approach the government is taking to address the challenge.
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