Total household debt has reached 236 billion Turkish Liras and 2012 will be a hard one for workers, people on low-incomes and small and medium enterprises, Oran told daily Hürriyet, claiming the country’s debt stock, current account deficit and inflation would continue to cause problems.
“The Turkish Lira has lost 30 percent in value against U.S. dollar. This means 100 liras has become 70 liras [in real terms]. We have grown poorer. The government raised special consumption tax and value added tax,” he said. “With the price hikes in gas and electricity, the citizens paid the price of government’s fault.”
Inflation has hiked due to cost increases in basic inputs, Oran said.
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Source : hurriyetdailynews.com
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