Istanbul, Europe Brief News – Rapidly increasing energy prices are lifting utility bills all over Europe. People are finding it difficult to meet both ends while businesses are uncertain when things are going back to normal.
In response to soaring inflation, Governments all over Europe are putting their efforts to control the energy prices to minimise the rising inflation rate.
Turkey is among those countries which are suffering most from the high inflation as the inflation has soared to 50% recently. The electricity bills hit sky high and small businesses are struggling to even survive.
Mehmat Bogday , an owner of one of the restaurants in Istanbul said “ His jaw dropped when he saw his electricity bill, it was higher than the rent he pays for his restaurant”.
He further added that if the prices stay the same for the next couple of months, they may have to lay off staff or pack their bags and go home.
A number of protests over electricity price hikes have been conducted in turkey. Even people are posting their electricity bills on social media to show how the cost is indefensible.
Turkey is currently facing a cost of living crisis in some of its places as the household and businesses are struggling with soaring inflation and low currency value.
Turkey suffered from a 44% drop in the currency value since last year. Because of all these reasons people are finding it hard to even buy basic necessities like food.
Households have experienced a spike in energy prices by 50% whereas the businesses have to pay 127% more than what they were paying previously.
Kemal Kilichdaroglu, leader of Turkey’s main opposition party said “ He would not pay his electricity bill until the tariffs are lowered”.
Turkey government fails to encounter soaring inflation
President Recep Tayyip Erdogan made certain changes in the system so the prices will increase every time households use more energy. But he clearly lacks to provide people any sort of relief.
The energy price hike can be dangerous for the tayyip erdogan government as the elections are coming closer. Although, its administration has said that they are working to find different ways to help people.
The Turkish government seems to have no clue what to do to control inflation as Tayyip Erdogan pressured the central bank to drop the interest rate , so the situation gets better.
