shortages are dragging down which should be a summer of recovery for many restaurants and hotels in europe will visit madrid. le walk into the show. i'm seeking beardsley in berlin. inflation and turkey has reached nearly 80 percent annually in june. that's according to official data provided by the turkish statistics institute. official being an important distinction here. economists and ordinary turks both say that costs have risen, have risen much faster than the government reports. not a live chin. dick hab reagan is in turkey looking for doctors would be interested in working in her practice in munich. it's been, it's my uncle. i flew to anchor from germany. we have a massive shortage of skilled workers. if we can't find good staff from abroad, will hit a wall holes luncheon van de van from today, the neurologist and psychiatrist is meeting with us the or you are a psychologist who hopes to leave turkey as soon as possible talked to we have many

turkish patients who don't speak much german, you'd be working with them some each in such an image that the moment is not easy for turks to get a visa for germany, which worries me, but i'd like to do it. could get me the talk still. soon it became clear why she wants to leave now it's a 50 lire for 2 glasses of tea. that's insane. on at the moment, 2 glasses of tea for the equivalent of almost 3 euros for the young psychology graduate. who works in a student advisory office. that's on affordable and given how empty restaurants and cafes here are these days, she's not alone in that iq economy so that i mainly want to go to germany for economic reasons, the same as all the other young people here. we meet vessel olu. so at

a grocery store, in istanbul, the economist calculates the inflation rate every month, based on actual price increases over the past year. not the governor official rates like a channel that goes until the last year mil cost between $5.00 and $7.00, nero's right to 7 zeroes, and now it is. smoke is 20 louis it went up. yes. today, unfortunately, the non dr. either minus a leader of milk for $20.00, roughly one euro 20 loose. i believe that the official inflation rate of 70 percent is incorrect and you don't have it. you used to use a lot of innovation rate is up at 156 percent compared to prices from last year and it will continue to go up soon. the government's official inflation rate will break 100 percent by october or november i. according to our calculations, we're heading towards almost 200 percent you back in ankara, a live chin dick,

have reagan, is about to meet with someone else. she hopes will join her in germany. vog at good is a professor and practicing psychiatrist professor good hasn't decided yet, but he is clearly interested, even though he earns quite a bit more than recent graduates on the loan is bull addict edition. and i can definitely imagine doing it. i'd like to work in england or in germany. my other. i know that standards are very high there, but then you she called lucy's. just one more reason why the exodus of medical professionals from turkey is likely to continue or correspond at jojo hun joins me from istanbul for more. uli almost 80 percent annual inflation in june. what is this number tell us, and what does it not tell us about the cost of living in turkey? well, this number stephen comes from turkey, state statistics agency,

as you mentioned, and it's already an eye popping figure. but what's striking as many talks no longer believe the official data, they think inflation is much higher. so do opposition. politicians and economists who have started to openly question the reliability of the governments of figures on inflation today. a well known, independent research group announced that turkey's annual inflation, in fact, rose to more than 175 percent in june. that's more than double the official rate. now, all these doubts are adding to people's, of frustration and despair in this massive currency and cost of living crisis. some people have taken to the streets and recent month, although i should add that anti government protests here in the country are very little tolerated. we often see more police than demonstrators, but we went to a protest, a small protest here in istanbul this weekend. let's listen to what people there

told me to know. don't miss it. we'll do a little damage to them. we have problems paying our rent our bills and accessing healthy quality food reviews. we're going through a huge economic crisis that shakes all of us that you'll, you'll love. i have 2 children. the cheese i used to put between their school sandwiches was 20 years last year to almost now it's 84 years. and i've had to start buying cheaper brands. a lot of years do you want to go long? but even those are getting more expensive. it all on osgood, is it? how can people who are in minimum wage still managed to pay their rent and make a living? they can't. the situation becomes so painful for many of us. people are at their limits. again, to get people at their limits, the voices of ordinary turks, they're you, how do people make ends meet? well, i've heard all kinds of strategies how people are trying to get by, especially those who have to survive on a minimum wage or

a pension. that they buy less consumers, obsessively, compare prices, they are working a 2nd or 3rd job. they don't travel, they don't go to restaurants any more. many people tell me they are making depths. and many young people tell me their only plan is to somehow leave turkey and try to live abroad. so this crisis is really hit the turkish middle class and the poor of course, and that's devastating. what does the government say to this kind of reaction? we're present add one a few days ago announced a raise of the minimum wage, about 30 percent to $5500.00 turkish lira a month. that's about 315 euros, but many people tell me that's not enough. it's not enough. as long as turkish present add, one continues his unconventional economic policy, where he stubbornly opposes any rays of the interest rate by the turkish central bank. that would be the conventional way of fighting inflation. and so they say,

raising the minimum wage to them is some kind of gift may be ahead of the upcoming elections. they officially scheduled for next year. president ed one is running for reelection, but his popularity ratings have suffered greatly because of this economic crisis. so this might be an attempt to calm people down, but many people also tell me they no longer believe that president edwin is the man who consoles this crisis. right. a correspondent, you, johan, inevitable. thank you very much. we go now to some of our other global business stories making headlines for the 1st time. there are no german companies among the $100.00 global companies with the highest market capitalization. 15 years ago, there were 7 german companies in the top 100. it's a list compiled by consultants at why american companies are still leading the list . 60 of the most valuable corporations are based in the u. s.

somalia is opening up its financial system to foreign lenders. on sunday, the african country issued licenses to buncombe this year of egypt and turkeys, zuraw catelynn bank. they will be the 1st international banks to operate in the country. somalia is one of the poorest countries in the world. following decades of civil war, chinese developer shamal defaulted on a $1000000000.00 bond on sunday. it's one of the biggest such defaults so far this year in the countries troubled property sector. that's a group that includes struggling giants like ever grand. once the country's top selling developer, but now the world's most indebted property company, german road traffic, germany, germany, road traffic agency rather is recalling tesla models why and 3, because of a software lurch in the automatic emergency call system agency said the bug effects around $59000.00 vehicles worldwide that it's unclear how many of those cars were

registered in germany or the summer travel season is big business across europe, especially for hotels, bars and restaurants even more so after recent, disappointing seasons due to the crone of virus pandemic. but things still aren't so easy this year. now, staffing shortages are hitting the service industry harder than ever after 2 years of lost income due to the calvin 19 restrictions money, then you know that he guess was looking forward to a busy summer. but now the owner of a popular tavern in madrid as to phase and other problem hiring raiders has never been so heart. i even at least the candidates, there's a waiters crisis because of all we have been talking about salaries and long hours . but i think this is a structural crisis of the economy and work in spain, not just in the hospitality sector. and if we keep on lankin waiters, what will happen in the future is that there will be no bars and flooding. during

the pandemic, many workers move to different sectors with better conditions. the spanish service industry had also relied heavily on migrant workers, but many have yet to return. the neighboring portugal. hotels are facing the same issue. they will need to hire at least 15000 more workers this summer to face the high number of reservations. you ask him, i think it's an evil affecting everyone. we are all feeling it a lot, the lack of qualified staff and the high turnover of employees because sometimes for an extra 20 or 30 years, they move to another company. south on for the, with the with it is unions to say low wages and unsocial, howard are the root causes of the workers shortages. but for many young workers, it's also a matter of professional aspirations. lucidity like you go out on the street and ask someone, do you want to be a bartender, a waiter or something?

and firstly they wouldn't even know what the specific responsibilities would be. and then they say, well know what for and finally in this topsy turvy travel season, you might be able to make money just by not traveling. passengers with delta airlines said they were offered $10000.00 to leave an overbooked flight from grand rapids michigan to minneapolis. crew member announcing over the planes p a system that they were looking for 8 passengers to give up their seats. initially, delta offered $5000.00, but it later increased back to $10000.00, a spokesman for the airline would not comment on the cash offer. but did confirm that airline staff have the authority to offer compensation sounds good to me. or here's reminder of the top business story. we're following this. our inflation in turkey has reached nearly 80 percent annually and june.

that's according to official data provided by the turkish statistics institute. and that's it for me. and the dw business team, you can find out more about these and other stories online. d, w dot com slash business were also on you to check us out at the d. w at news channel. i've seen beardsley watching. thing with

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learning the german language head. yeah. a lot. this kid to me and great, but to nicky, to and track with you want to know their story for migrant verifying and reliable information for migrant. a. ah, this is a w news line from the russia pushes for full control of ukraine's eastern regions after claiming victory in the hands of russia forces. russian forces are moved to captain nathan to mask the president lands gave bows to retake last territory. also .