i'll see w business. my name is leah hunt. i'm dw starkey correspondents, one celebrated as the leader who lifted millions of tucks into the middle cost president ridge of tire of ad one is now facing the most serious challenge of his 2 decades in power. opinion polls suggest his main rival for the presidency, has a narrow lead in a tight race, warring voters more than any other issue is the economy. and inflation driven cost of living crisis has eroded ad $1.00 supports 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 though say the real rate 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 war thing. they're just waiting 14 on may because everyone just gets bored about the system to, to, and to, to the people with low income, all in especially great distress kentucky because of high inflation from that 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 in the station economy. economy, it will actually economy is very important issue for our country right now. it's also very important for young people, especially for our students. i, for example, we are about to graduate and we kind of dream about the future as we walk into the car. because we are dependent on everything they were due on the object of the hash

. it to the voice of voters in east double them. the talk is you economy was already an urgent need for pat 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 squeaks that struck the country south east from early february on. 11 provinces have been effected by the disaster. we went to audio month. one of the cities was to defy the quakes and a political stronghold off the president whit entire businesses literally collapsed . arguments ceilings factory lies in ruins. the text on worship he managed and the audio man had only opened one of the hall views ago. it was destroyed within minutes in february's us quakes vp martin caught sooner than that. this happened due to serious,

negligent how's the a pump in my building inspectors didn't check the construction company and administer your officials. didn't keep tabs on the building this back to us. there's been a whole chain of negligence on a systematic they from the ministry to the contract, to it, and the tights and out of my hips and evaluate 0, many like awesome it still in here in the quake had region, hundreds of thousands of buildings were destroyed, with damaged and tie of businesses have literally collapsed. millions of people slapped the quakes own the un estimates the economic cost will exceed 90000000000 euros. president richard tony of ad one has clinched help his promise shortly before the election. a reconstruction programs of historic proportions as long as this god, winnings is we will completely hear the words caused by the disaster in 11

provinces. by b, as in a total of $600.00. $50000.00 your houses, 319000 of which will be delivered in one year, the economist and rough enough to is skeptical about these announcements. in the last 2 decades to add one has launched multiple states subsidize 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. it would have told me to do. i think everyone knows that himself, the art correct damage is as big as 10 percent of all g d p. and you can't just show that easy for me before i get it through turkey needs for an investment for those. let me try, otherwise it won't work fine on on, just because when you get this in line, getting this get it dropped stuff didn't add one's main challenge or in the presidential election, came out. calisto removed represents a 6 party opposition alliance. he has promised to reverse ad ones and also toxic

and only 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 and some of his fellow entrepreneurs have already given up. but i'm going to send him once 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 tucker, she economy well on the edge 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 put 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, a 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 for the political and economic perspective of politics? you know, it's all talk receive, i guess, a different model of, of political developments more essential asian model versus, you know, western liberal market democracy. if the opposition, when i think we'll see the west reach back out to to, if you try back and bring it back into the fold of nato and the you the be a love fest i guess between the west kentucky again and from an economics perspective, the opposition, how does the orthodox economics team very well known and respected alibaba, john form a k p minister of finance on the 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, the market knows and respects they suggested they'll go back to also book see. so basically they'll do, they'll raise interest rates. so the sites inflation, they'll have a more flexible exchange rate regime. they'll clear out the central bank can introduce uh, go back to some independence in terms of money to policy in terms of the team at the central bank. and 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 public to pitch. and the, uh, if you want to be ins, as i mentioned, the question just is, is how sustainable is the balance of payments when the guy that's all you know, tells the central bank that it count, use the one the most,

the pulse of tool for central bank is, which is the ability to use interest rates to demand money as the economy. if they're not able to use interest rate, see the, the come see us to adjust the estimates, use capital controls, or they have to get some external. some 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 what it is, right? big checks to defend the current saying, and you know, to stay in the macro without to bounce names. 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 insights. the cost of living prizes in turkey has the hips, people in all kinds of ways. but for those who are 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 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 my main reason. have to do that. when i rented a truck to, it was 150 to 200, cleared up for a kind of the middle. now they charge $1000.00 for the same piece of land for them on top. it just says customers 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 baby food. and because now as they can not buy a baby formula, even the modest cheapest ones. so they are trying to feed their chips with more 3rd of its sugar. said those to me i'm the rest of the deep poverty teen takes a hot breaking choice of deciding who receives a 2010 poverty will be a tough chatting for whoever wins the election as the cost of living crisis continues to by to and that's all we have time for now on this special edition of the w business on the upcoming elections here in turkey. um you. yeah, hon. it is simple. thanks for watching and provide

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. this is the, the news live from ballot. a temporary reprieve for him. ron con, artist of the former prime minister was bronze in 2 weeks failed. in one corruption case of the court ruled he cannot be re arrested in all the cases against also in the program.