Reported about 1 month ago
Turkish companies are facing severe difficulties due to high inflation, rising costs, and limited access to finance, all compounded by weak demand. The clothing and textile sectors are particularly affected, as the central bank maintains a 50% interest rate while inflation exceeds 60%. As a result, many firms are shutting down, and confidence in the economic outlook has plummeted, with GDP expected to contract in the second quarter.
Source: YAHOO