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told me even about sugars paralyze between your societies. computers and governments that go crazy for your data. let me explain how these technologies work. so that's how they can also watch it. now, the strong mind and a weak economy rest of type are the ones election victory sense turkey is deliver it to a new record. hello. we ask, what impact another 5 years of ad one will have on an economy, a ready, crippled by installation,

and also cut me off. a tentative deal is done. i will look at the compromises. democrats and republicans has made this table a potential us that the business need of the business. i'm kate ferguson. thanks for joining me. turkey isn't barking on another 5 years with rach up type. i had one off the home is victory against bible come on coach car lou comes in mid a deep economic crisis is 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 and a bit to find the inflation, rampant, inflation, dwindling forward reserves. a currency crisis. once again, the responsibility of president of age, of tie affair to one who has 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. look sharp. i am

surprised by the prices. how can it be that carrots costing 50 lee raw meat? $500.00 li, ross agent, that's a lot to them. and how is it possible that people see a vote for such a government? yeah, can get to the turkish laira slumped to a new record low on monday. the currency of last 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 quad. so if anyone can do it, we will show 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 when. 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, i'm lowering interest rates. do you think there's any chance of add? one will reverse this very unusual policy. looks like no, there is no chance because yesterday, in his week towards the future basically said that just like does i called the lower the interest rate, that 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 i want to think you mentioned different, there was a tooth 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 reserves, a stroke, extensive bank just dropped to 210. it is august of minus 0200000000 dollars. so that's where the series. 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 inflation in the future. because you have to feel the steps to run the state and the economy at the same time. and we have them know, signed someone to sign up for an economy back tracking and pointed to back tracking just to just fixing this problem. we also have to keep in mind that turkey has an enormous right deficit, but 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 rates 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 direct your policy is no matter how much you raise the interest. because if you chris, if it costs the liberal 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 up 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 drawn, 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 in our foreseeable future. okay. k g, thank you very much for your insight into, you know, moving on to some other news here to some of the short global business storage. germany's inflation race 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 year old monthly public transport tickets be care. a pm central bank is unlikely, however it to be deterred from raising interest rates. again, china is for us domestically made, passenger aircraft, has completed its inaugural commercial flights from shanghai to beijing. the c 919

was built by state owned company co mac, which is hoping to challenge air pulse and boeing dominance in the single aisle jet market. while co mac designs, many of the parts western firms supplied key components you as 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 and republicans reached a compromise which would see temporary spending cops in all areas except the defense while upholding the clean energy commitments, immunization reduction for us president 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 our harder and historic economic recovery. and the agreement also represents a compromises means known,

got everything they want to take the car back to work a 2 year 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, alongside social security payments and health care subsidies experts. headboard, the 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 know a guy

a store to grows 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 up 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, but certainly they have take which projects 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 trickier time harnessing good for export, but it can play another road, says geologist starting to need some. well, i still have to bring to the table. it's more. no, let's on our experience on and guidance to other or to other nations on how to proceed. and so we can hash, but i think we would be much more has been that way to really yeah. get to a certain model. uh, get the speeding uh, 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 him. 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. i mean tire team here in berlin is bye. take care.

the the turkey selection is tied to remain president despite corruption, high inflation and an autocratic leadership style. how does he maintain his grip on power? and why does he still have so much support? they're the ones, the descendant of an african fishing village. turnbow in sierra leone have made their living from the fishing for centuries. but now, strollers are threatening the coast. many villagers have been forced to abandon

their families because they have no future and need boats empty men in 45 minutes on dw would or sports all of our the scoring we say they were about never giving up sports flies every weekend on dw, the, it's a fine evening in east angle and people are preparing for a top soccer game in domestic tash district of turkeys, largest city. everyone supports their local club.