Erdogan Win Worsens Turkey's Economic Woes

The Turkish lira sank to a record low after Erdogan's election win.
Erdogan's handling of the economy has caused a deficit of confidence among foreign investors.
Depletion of forex reserves and high inflation may lead to acute currency crisis.
Turkish lira has lost about 90% of its value against the US dollar in the last 20 years.
Despite the COVID-19 pandemic, Turkey's economic growth has been boosted by cheap credit and excessive government spending.