After the Turks welcomed the new year with rising electricity and natural gas prices, a leader of the ruling Justice and Development Party said the price hike “will go as it came.”
A member of the ruling party’s Central Executive Committee, Mujahid Berenci, added, according to the Turkish website “Zaman”, that “there is no need for an immediate reaction”.
It should be noted that Berenci had recently sparked controversy after wearing a scarf that cost 5,302 Turkish lira.
The Turkish government had raised gas and electricity prices as the new year came in the midst of a worsening economic crisis and an increase in the rate of monetary inflation.
Meanwhile, the country’s Energy Market Regulator said that electricity prices have risen by about 50% for low-demand households, while they have increased by more than 100% for high-demand commercial users. request.
While state-owned Botaş Oil and Natural Gas Pipelines Company announced that natural gas prices rose 25% for residential use and 50% for industrial use in January.
Erdogan’s economic program
Interestingly, these decisions indicate that Turkish President Recep Tayyip Erdogan’s attempts to stem the collapse of the lira have not borne fruit, while the economy continues to shake due to accusations and criticism of the new economic program. in act by Erdogan, during which he focuses on exports and credit despite the collapse of the lira and inflation.
The recent price hike is expected to lead to an increase in the annual rate of monetary inflation, which exceeded 21% last November.
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