trying to find out who is responsible. here's a reminder of our top story. your auntie don't even use. residents of cape have been seeking shelter after russian forces launched a rare daytime aerial assault on the city. your brains minutes reset it shut down old of me. so i was fired at the capital with reports of injuries and fires from folding deborah and state chain because after a short break, dw business with kate efforts of next extra turn into that. i'll be back again at the top of the next term. take care of the prices category issues with a lot say well crazy. the

guys is evelyn charmaya. welcome to my pod cast. last matters that i advised, celebrities, influenza attend experts to talk about all playing loved data. and yet today, nothing less the south. all these things in more and the new season of the fuck. com. make sure it's a tune in wherever you get you plus costs enjoying the conversation. because you know, it's last matter the strong mind and a weak economy rest of type are the ones election, victory sense turkey, deliver it to a new record to low. we ask, what impacts another 5 years of ad one will have on an economy a ready, crippled by installation. also, how many of $810.00 to the deal is done. we'll look at the compromises. democrats

and republicans has made this tables a potential us that the business need of the business. i'm kate ferguson. thanks for joining me. turkey is embarking on another 5 years with the rest of type. i had one of the home. is victoria against bible come on, coach car lou comes in mid a deep economic crisis as the cost of living continues to for analysts are now wondering whether add $1.00 of bond in his unusual policy of lowering interest rates in a bid to fight inflation. rampant inflation, dwindling for and reserves a currency crisis. once again, the responsibility of president of a jeep type there to one who are secured the presidency and extended his will into a 3rd decade. it's a win that some voters are unable to wrap their heads around. election, i am surprised by the price is how can it be that carrots costs $50.00 leroy?

meet $500.00 li ross asians. that's a lot to them. and how is it possible that people still vote for such a government? yeah. can give this to the turkish lira slumped to a new record low on monday, the currency of loss more than 90 percent of its value over the last decade during his victory speech. or to want to acknowledge that inflation was the most urgent issue facing turkey bought quad. so if anyone can do it, we will uh so yeah, the interest rate has been reduced to 8.5 at the moment. and you will see that inflation will also decrease holdings to put economist out that aired one will improve the current situation. the widely held consensus is that his aversion to raising interest rates is a main contributor to soaring inflation. as a result, turkey central bank has spent an estimated $177000000000.00 to prop up the lira since december 2021 alone, deepening deficit's,

deterring for an investment that makes an economic recovery extremely difficult. to talk more about this, i'm feeling that by do, but it doesn't even force or outcome a key to occur. we saw it in the report to start by all objective measurements. turkeys. economy is in dire straits in that context. how are we to interpret edwin's when here? well, for starters, you know, they are both. those are for the ones that they did not want to a position written. so i believe the sentiment is that even to add one is responsible for this cost of living crisis. that means, you know, they, they feel that it's would be him to fix it. so therefore, we have just seen that go on reading exactly the same amount of fluids as he won in 2018 evictions. but are the ones we also needs to business as usual. so it's, it's reasonable to expect more term with more,

more inflation and maybe the interest rates. okay. and speaking of that problem of more inflation and lowering interest rates, do you think there's any chance of ad one will reverse this? very unusual policy? looks like no, there is no chance because yesterday, in his week towards the future basically said the, just like does i called the lower the interest rate? it would be the same way they, they would lower the inflation. nobody knows what that exactly means, but we shouldn't basically expect anything that's different from, from what was happening in the last winehoff years. and the only thing you mentioned different day was that she's designing an economic team with international credibility. but we didn't see, we didn't see anything that, that he says that, you know? yeah, we know it's bad and we're going to fix it. we're going to change the course. no, we haven't heard that. and i think we shouldn't expect that. okay, so you mentioned the international kind of bill. is you there? another problem? turkey, how is that is foreign currency reserves are dwindling. how serious

a problem is this? it's indeed very serious. the foreign exchange results of the extensive bank just dropped to 210. it is august of minus 0200000000 dollars. so that's where it's serious. so this, this kind of deficit has to be filled in one way or the other. that means that more taxes more uh, higher, more price hikes and more information in the future. because you have to feel the steps to run the state and the economy at the same time. and we have, we have no signed form signed for an economy back tracking appointed to back tracking just to just fixing this problem. we also have to keep in mind that turkey has an enormous right deficit that it has to deal with that occurrence of crisis. and you mentioned earlier to me that there are some analogies with other countries like argentina here. well, water is a comparison between those 2 countries. well, as you know, origin tonight is buckling with

a 106 percent inflation rate. ritz 9 to 7 percent interest rate. so that shows us as optis of to point it. it won't work, no matter how do you back track your policy is no matter how much you raise the interest. because if you chris, if it costs 3 little sticks, you will arrive at the point of no return. and i, i believe for turkey, this crossover point is there, it hasn't arrived there. so from here on, um, yeah, we will be able to pull of this the morning station more crisis for a foreseeable future feature at an accelerating price. okay. so fundamentally is that where you say it's going to is more economic term while to the all the indications suggest that this is not going to be fixed by conventional and measures are due on will not go down that road add on is obsessed with investment. and growth, so he believes it's lowering the interest rates with attract investments and but

the reality says otherwise because investors would look at as stability and predictability, which there is in kentucky at the moment. and i don't believe we will, we will, we will see that's in our foreseeable future. okay. k, g, thank you very much. parents aren't, you know, moving on to some other news here to some of the shorts global business stories. germany's inflation rate is expected to fall to 6 and a half percent in may of the lowest level in more than a year economist surveyed by voice. here is a tribute the full to lower gas prices on the introduction of a nation wide $49.00 euro, monthly public transport tickets. we care a pm central bank is unlikely, however it to be deterred from raising interest rate. again, china is 1st domestically made, passenger aircraft, has completed its inaugural commercial flights from shanghai to beijing. the c 9. 19 was built by state owned company, co mock,

which is hoping to challenge airbus and boeing's dominance in the single aisle jet market. while co mac designs, many of the parts western firms supplied key components us president obama is urging congress to approve a deal to raise the mind to the government can borrow in order to prevent the country defaulting on its dest. over the weekend democrats on for publicans reached a compromise, which would see temporary spending cops in all areas except the defense while upholding the clean energy commitments immunization reduction in the us precedent and the speaker of the house republican kevin mccarthy worked to saturday night to reach an agreement it takes the threat of catastrophic to fall off the table protects on harder and historic economic recovery. and the agreement also represented compromises means known, got everything they want to

take back to your budget deal is big. part of the compromise. spending will be flat for 2024, but the defense spending really increase in 2025 and the budget increases will be kept at one percent. it means for 2 years, neither democrats or republicans have to worry about hitting the government's debt ceiling. how much data can can issue that could table that contentious issue for now? lifting the current to us that limit of $31.00 trillion dollars will allow the government to meet its financial obligations. tens of millions of public sector workers will continue to be paid on time along side social security payments and else care

subsidies, experts at warner, us government, that default would have cost the us economy millions of jobs. so now support from both democrats and republicans will be needed for congressional approval to avert the projected june 5th government. i want to take you to ice funds, know a country that generates a 100 percent of its power from renewables to a thermal energy has long been used to he's homes. but in recent times, it's also become a wait for farmers to produce fresh projects all year rent. joe trammel. the energy is iceland. so leading source of energy used for each in nearly every household in the country. it provides around a quarter of iceland power needs and from us needed to in this green house, an hour away from the cubic homes you to a guy a store to gross strawberries. that means maintaining the right conditions,

including the perfect temperature, a $16.00 to $17.00 degrees celsius during the day, and 8 degrees celsius at night. this gaze that helps provide energy to a neighborhood. water is pumped up from the depths closers. every 15 minutes close to boiling point, the water flows to the greenhouses via pipes. and this palm controlled often on gross for different types of tomatoes over an area covering 10000 square meters . he is iceland lodges, produce of tomatoes for somebody that has a good project going on with green energy. so i think it's uh, you can be really proud of, of the filter from the market. but we can say it's maybe not the cheapest cheapest frontier, but it's a good quality on, on policy, which is so important. locally grown produce can cost up to twice as much as

imported food and divide. it has an abundance of to you to him and energy i spent has a tricky of time. harnessing it for export, but it can play another road, says geologist trying to a need some. well, i can bring to the table. it's more no, let's us. and our experience on and guidance to other to other nations on how to proceed. and so we can have and i think we would be much more has been that way to really yeah. get to a certain model. uh, get the speeding on globally nielsen works with customers in europe, east africa let in america and asia, advising them and how to best hon is to you to i'm a resources that rastafari show. thank you so much for watching. so more you can always check. i d, w dot com slash business. we're on the data vineyards, youtube channel, as well from me on the entire team. here in berlin is bye. take care. the

piece is really the best material to house the world. but of course we need to make it better and we can do it you message to building projects in india crew. what's possible mean savings 1000000 times to borrow today. 6 dw, the voice, i am must see all the new jobs. she's the face of a protest movement. i didn't think so many women would send me the photos.

she's their motivator. here on this one must be the and she, but no matter what. part of the stomach for public took my brother hostage a few days ago, but at the trying to sign in the scene or the new job they will be silenced. starts june 3rd on dw, the scientists suggesting that feet west or in the name of making hydropower back to the environment. more on that coming up. we'll also be looking at net fits to reduce the home for the impact. so because you need us to building material concrete, fast, least in the concrete jungle, we will notice that you.