Industry
Heating and lighting will become a luxury in Turkey (photo: GT)
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TURKEY. EPDKL, the Turkish electricity regulator, and its gas counterpart Botals, have just decided to apply, from Thursday 1 September 2022, a 20% increase in electricity and gas prices for private individuals, and 50% for companies.
This measure should further accelerate inflation in the country. According to the Turkish authorities, it was 80% in July 2022 (over a sliding 12-month period), and at least 150% according to economists independent of the government.
This surge in prices is to be weighed against the growth in Turkish GDP, which was 7.6% in the second quarter of 2022. A high rate that is deceptive. It is explained by inflation and by the increase in exports made possible by the collapse of the value of the Turkish lira.
This measure should further accelerate inflation in the country. According to the Turkish authorities, it was 80% in July 2022 (over a sliding 12-month period), and at least 150% according to economists independent of the government.
This surge in prices is to be weighed against the growth in Turkish GDP, which was 7.6% in the second quarter of 2022. A high rate that is deceptive. It is explained by inflation and by the increase in exports made possible by the collapse of the value of the Turkish lira.
