tl;dr:

Nearly a month after Turkish President Recep Tayyip Erdogan’s re-election, his government is forging a new course in economic policy. The new cabinet’s moves are to tackle the crippling economic crisis, which has seen inflation rates soar and the lira plunging to record lows as the country battles a cost-of-living crisis and depleted foreign reserves. The post-election tightening, made in order to tackle soaring inflation rates, still missed expectations and the lira fell sharply to a new record low on Friday. Measures to curb inflation, address economic crisis. On Tuesday, Labour Minister Vedat Isikhan also announced a 34 percent increase in the country’s monthly minimum wage to 11,402 lira.

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