Turkish Economy’s Hard Landing Upsets Erdogan Electoral Play

Source:Bloomberg Date:11Dec2018

Now that the hard landing is here for Turkey, the question is how long the economic slowdown will last and what policy makers will do about it with only months left before local elections.

The Middle East’s biggest economy is on track to cap this year with two consecutive quarters of contraction — or a technical recession — in a sign the lira’s crash in August and the ensuing spike in borrowing costs are proving nearly as damaging for Turkey’s prospects as a failed coup attempt did two years ago.