of the w business. my name is leah hunt. i'm dw, as turkey correspondence was celebrated as the leader. we lifted millions of tax into the middle cost president ridge of tire of ad $1.00 is now facing the most serious challenge of his 2 decades in power. opinion whole suggests his main rival for the presidency, has a narrow lead in a tight race. flooring boat has more than any other issue is the economy and inflation driven cost of living crisis has eroded ad one's support. in recent years, the country grappled with inflation as high as 85 percent within the last year. that would decline to 44 percent in april, according to official data. independent economists. those say the real rage could be twice as high. the inflation search was fed by a lira slide as the central bank slashed interest rates in an on also docs policy champion by add one. we took to the streets to aspects how important economic

concerns are in this election. and also people, especially young, wants like me, like beginning of this. uh, they are just waiting of the, you know, for a board thing. they're just waiting 14 on may because everyone just gets bored of the, about the system to, to, and to, to the people with lower income or in especially great distress kentucky because of high installations on this was that was that many people are struggling to get by month by month and some of the items are struggling to pay the rent. the most important issue in the selection right now is the economy to an internet, ministration economy. and economy will actually economy is a very important issue for our country right now. it is also very important for young people, especially for our students. i, for example, we are about to graduate and we cannot dream about the future as we want you to kind of because we are dependent on everything they were due on the object of the

hash. it is the voice of voters in east double them. the talk is you economy was already an urgent need of repair. and president ad one is now confronting a power little crisis. as he seeks to extend his route into a decade. he faces a staggering reconstruction bill from a series of devastating quakes that struck the country, se from early february on 11 provinces have been effected by the disaster. we went to audio month. one of the cities was changed by the quakes and a political stronghold off the president whit entire businesses, literally collapsed. arguments ceilings factory lies in ruins. the text of worship he managed in the audio mon had only opened one in the hall of years ago. it was destroyed within minutes in february's us quakes modeling customers and of this happened to, to serious negligent has to be

a function of my building. inspectors didn't check the construction company and administer your officials. didn't keep tabs on the building inspect. last year there's been a whole chain of negligence on that systematically from the ministry to the contract to the state and the type that no, i don't know if that helps any value 0, many like awesome it still in here in the quaking region, hundreds of thousands of buildings were destroyed, were damaged, and tie of businesses have literally collapsed. millions of people slept the quakes own the un estimates the economic cost will exceed 90000000000 euros. president ridge of taiyah of ad one has clinched help his promise shortly before the election of reconstruction programs of historic proportions. as long as the god winnings is, we will completely hear the words caused by the disaster in 11 provinces. by b,

as in a total of 650000 new houses, 319000 of which will be delivered in one year home on the economist and rough chip is skeptical about these announcements in the last 2 decades. to add one has launched multiple states subsidized construction projects to boost the economy, but the country can no longer afford. this is the wrong number because it's impossible to get the region back on its feet in such a short time. i think everyone knows that himself took in new york. correct damage is as big as 10 percent of all g d p. and you can't just show that easy for me for, for the get it through turkey needs for an investment for those which otherwise it won't work fine on on. just because let me get this in line, getting this get it dropped, stuff didn't add one's main challenge or in the presidential election came out of college to remove represents a 6 party opposition alliance. he has promised to reverse ad ones and also talks

economic policies restore the independence of institutions and bring back parliamentary democracy in quake it uh, the amount of mid salem is trying to save his business. he has rented a whole next to his collapsed factory. here he can keep at least a few of his employees working some of his fellow entrepreneurs have already given up, but um its send him wants to try to stay in business. he hopes that the reconstruction in his hometown were progress quickly. that people will return to audio me on that there will be work here again in the future. an example there of how people have been impacted by recent events. earlier i spoke to timothy ash, he's an economist, covering turkey at our b. c, blue bay. and i started by asking him for his assessment of the current state of

the tuck economy. well, on the add on, it's been a decade of still go economic cycles, high growth, but the overheating, which is most high inflation, lots trade deficits and current account deficit. switch much pressure on the exchange rate, the valuation, and then feed through to inflation veteran orthodox policies by add one doesn't like high interest rates, very high, very negative, really interest rates. that hasn't been a defense for the, for the currency. so the very challenging, actually, i mean the economy is kind of, it's amazing that took, he's actually avoided the systemic crisis. so i think despite these kind of perennial kind of balance of payments and come and see kind of crises. but actually the banking set has been pretty. resilience hasn't been itself in debt crisis. yes . but i guess post election people question, you know, what's gonna happen is not, is it going to be sustainable. however, one if he wins is going to manage that. but the challenging balance of payments

kind of issues without the, without doing the right kind of thing in terms of raising interest rates is so how significant is this election? would you say in particular, for the future of the country? are we looking at 2 completely different economic visions for turkey as well as choose the impulse and elections from the political and economic perspective of politics? you know, it's autocracy. i guess, a different model of, of political developments more essential asian model. this is, you know, west and liberal market democracy. if the opposition, when i think we'll see the west reach back out to to, if you try back, bring it back into the fold of nato and the you to be a love fest i guess, between the west kentucky again and from an economics perspective, the opposition have is a orthodox economics to a very well known and respected alibaba. john form a k p ministry of finance form a deputy prime minister under the a k p. but he did

a lot of the difficult adjustment 20 years ago. uh, as a finance minister uh also you know, again other people in the team to market those some respects they suggested they'll go back to also doxy. so basically they'll do, they'll raise interest rates. so the fights, inflation, they'll have a more flexible exchange rate regime. they'll clear out the central bank and introduce uh, go back to some independence in terms of money to policy in terms of the team at the central bank. you go from the probably and i think the market will like that. so likely they'll see a lot of capital inflows that will help stabilize the currency. and eventually, you know, of, hopefully inflation will moderate. they'll be able to cut rates ultimately not so that you can pet types of relatively positive bitch of the if you want to means, as i mentioned. the question just is, is how sustainable is the balance of payments when the guy, that's all the, you know, tells the central bank that it count, use the one the most,

the pulse of tool for central bank cars, which is the ballistics, to use interest rates to demand money as the economy, if they're not able to use interest rates the, the, the comes yes to with just the students use capital controls or they have to get some external. so new financing from abroad doesn't want to go to the mess. so, you know, it's, it's whether or not in the gulf states or rusher up or words, right? big checks to defend the current saying, and, you know, sustain the macro without the balance payments crisis. a very decisive election indeed. and one of the tightest ones, according to polls, timothy ash, thank you so much for joining us. thank you for your insight. the cost of living prices in turkey has the hits people in all kinds of ways. but for those who were already struggling, it's the growing price of food, the tops, the list of concerns. my colleague, dorian jones, has this report right here from is simple. it's too early. saw the use

of colleges to bring these parties to disassemble markets for farming companies like colleges a castillo, agricultural, it's a struggle for survival. i mean, organizations. in october, it reached 85 percent associates, as opposed to stay for the economy to be decisive. for many voters, johnson or mobile drop those off to you, a decent price. that's why more reasonable to do that. when i rented a truck to it was 150 to 100, cleared up for a kind of the middle. now they charge $1000.00 for the same piece of land for them on this topic, just says custom is all buying less used to sell out by 1 pm. now we've lucky to finish by 5. for some of these stumble high prices. a molding justin inconvenience very ex essential threat. these temple charity, the poverty helps lose increases need the group bone storing brands have both many shante dwellings. and even the specter of malnutrition now hangs over the city. now

it's very hard to find a lot of the food. for instance, we see that the do remember again asking for food for bigger kids. it's increased so much and baby formula they're asking for that this they've food and because now, and they can not buy a baby formula, even the mo, the cheapest ones. so they are trying to feed their chips with water with sugar, said those to me and the rest of the deep poverty team takes the hot breaking choice of deciding who receives a 2000 tax. the poverty will be a tough chatting for whoever wins the election as the cost of living crisis continues to bike. and that's all we have time for now on this special edition of the w business on the upcoming elections here in turkey. amelia hahn is simple.

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70 years. dw, the, this is dw, live from bell in a temporary reprieve for im, ron con, boxed on the phone, the prime minister has gone to 2 weeks, failed in one corruption case, and the court rules. he cannot be arrested in other cases against also in the program of a c.