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Medya News

Turkish economic crisis deepens as massive rises in fuel prices spark outrage

Turkish citizens are facing mounting frustration as the economic crisis in the country worsens, with significant rises in the prices of petrol, diesel and natural gas causing widespread backlash.

3:41 pm 16/07/2023
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Turkish economic crisis deepens as massive rises in fuel prices spark outrage
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As the economic crisis in Turkey continues to worsen, significant price increases on petrol, diesel and natural gas have drawn widespread backlash over the weekend.

Snap amendments to what are known as Special Consumption Tax rates, enacted under the authority of Turkish President Recep Tayyip Erdoğan, led to an approximate 6 lira ($0.23) surge in petrol and diesel prices on Saturday night.

Following the sudden tax adjustment, fuel prices saw a surge of approximately 21 percent. Moreover, there was also a staggering 224 percent increase in the rate for natural gas in addition to the rise in the petrol and diesel rates.

The decision to raise prices sparked a wave of criticism on social media, with the hashtag #KontakKapat (Turn off the ignition) trending on Twitter. Many users particularly highlighted the irony of the decision being made on 15 July, Turkey’s “Democracy and National Unity Day”, which was announced as a national holiday after the coup d’état attempt in 2016.

“It turns out they were performing the prayer for our souls,” remarked a user on Twitter, alluding to the recitation of prayers for the dead.

Even individuals close to the government expressed their discontent with the rise in prices. Ruling Justice and Development Party (AKP) member Metin Külünk denounced the decision as a “dirty game,” denouncing the timing of its implementation, which was during the recitation of prayers on 15 July, and called for the dismissal of those responsible for the decision.

“They are truly mocking the people,” retorted journalist Timur Soykan in response to Külünk’s remarks. “They are simultaneously exploiting the public through price increases and then acting as if they themselves were victims of these hikes. They are capable of governing the country while feigning ignorance about this decision.”

Users who compared prices before and after the elections in May emphasised that the price of diesel has surged from 19.40 liras ($0.74) when they cast their votes to a staggering 34.90 liras ($1.33) at present. Notably, the minimum pension, which was at 7,500 TL ($286,58) when voters went to the polls, has remained stagnant, providing no relief to pensioners amidst the economic turmoil.

These comparisons have fuelled discontent among the electorate, who had hoped for stability and improved living conditions following the elections. Instead, they find themselves grappling with the harsh reality of rising costs, dwindling purchasing power and an uncertain economic future.

 


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