What is the current economic situation in Turkey?

The pandemic has deepened the country’s economic difficulties. The turmoil has caused a strong downward spiral of the lira and inflation has fluctuated in the double digits, standing at 20 percent currently. The official unemployment rate exceeded 13 percent and youth unemployment 25 percent in 2020.

Does Turkey have a good economy?

Turkey’s economic freedom score is 64.0, making its economy the 76th freest in the 2021 Index. Turkey is ranked 37th among 45 countries in the Europe region, and its overall score is below the regional average but above the world average. The Turkish economy remains moderately free this year.

Is Turkey a successful country?

Turkey is defined by economists and political scientists as one of the world’s newly industrialized countries. With a population of 83.4 million as of 2021, Turkey has the world’s 20th-largest nominal GDP, and 11th-largest GDP by PPP.

Is Turkey a developed country 2020?

For example, the United Nations classifies Turkey as a developed country thanks to its HDI of . 807. The CIA World Factbook, G-20, and several other international organizations all agree. For the full HDI 2020 list, including the United States, Russia, China, and the United Kingdom, see below (any score .

Why is Turkey a poor country?

Since 1980, Turkey has lost the characteristics of an agricultural country. Unemployment, seasonal work, and low wages have caused poverty to shift from rural to urban areas and inadequate industrialization caused poverty to intensify in urban areas. However, poverty is still very severe in rural areas.

Is Turkey Sunni or Shiites?

Religious statistics Most Muslims in Turkey are Sunnis forming about 80.5%, and Shia-Aleviler (Alevis, Ja’faris, Alawites) denominations in total form about 16.5% of the Muslim population. Among Shia Muslim presence in Turkey there is a small but considerable minority of Muslims with Ismaili heritage and affiliation.

What is Turkish culture?

Turkey has a very diverse culture that is a blend of various elements of the O─čuz Turkic and Anatolian, Ottoman (which was itself a continuation of both Greco-Roman and Islamic cultures), and Western culture and traditions which started with the Westernization of the Ottoman Empire and continues today.