‘We can’t afford anything’: Turkey’s cost-of-living crisis threatens Erdogan’s re-election

ISTANBUL, May 8 (Reuters) – Istanbul barber Hakim Ekinci, a long-time supporter of Tayyip Erdogan, will not be voting for the president subsequent Sunday, blaming his financial insurance policies for eroding Turks’ buying energy and leaving many unable to afford even primary foodstuff.

Erdogan and his Islamist-rooted AK Party have been in a position to preserve their voter base, made up primarily of lower-income, conservative Muslim Turks, because of sturdy financial development within the first 10 years of his rule.

But a cost-of-living crisis sparked by Erdogan’s unorthodox financial programme over the previous 1-1/2 years has eroded his reputation, posing the largest electoral problem to his 20-year maintain on energy.

Some polls present Erdogan trailing his fundamental opponent Kemal Kilicdaroglu forward of Sunday’s first spherical vote – though the hole has lately narrowed. The parliamentary race stays on a razor edge, with the opposition seen doubtlessly clinching a slender majority.

“We used to be able to buy three to four bags of groceries for 150-200 lira ($7.7-$10). My wife and I could hardly carry them. Now we can barely fill two bags,” mentioned Ekinci, 63, pausing to clip a buyer’s hair in his salon in Istanbul’s Besiktas district.

“I’d say those responsible are the ones governing us. I think it is the wrong decisions they have taken. I used to be an AKP supporter but I’m not thinking of voting for them.”

Ekinci’s views are consultant of thousands and thousands of Turks, who’ve needed to cope with runaway inflation for years. Food costs surged 54% year-on-year in April, with headline inflation dropping to 43.7% after peaking in October at 85.5%, the best underneath Erdogan’s rule.

Annual inflation has remained in double digits for almost all the 5 years since normal elections in 2018. It started to surge after a forex crisis in late 2021, sparked by a sequence of rate of interest cuts, in keeping with Erdogan’s unorthodox views.

Ekinci mentioned he started to query his help for the president and the AKP attributable to financial causes shortly after the 2018 elections and made a particular choice to not vote for them after the forex crisis in 2021.

The Turkish lira misplaced 44% in 2021 and 30% in 2022. It has shed 76% underneath Erdogan’s second time period as president, marked by a number of forex crises attributable to unorthodox insurance policies, geopolitical developments such because the Ukraine struggle and disputes between Ankara and Washington.

“The exchange rate is uncontrollable. We can’t afford anything. Nothing they said has held, therefore they do not inspire any confidence,” Ekinci mentioned.

WORDS AND ACTION

The barber works by himself after having to put off his two employees and mentioned he can’t safe any financial institution loans regardless of the speed cuts as authorities restrict shopper loans to anchor inflation. His overseas forex loans additionally multiplied in lira phrases because the forex fell.

But many AKP voters nonetheless imagine solely Erdogan can repair the economic system, or blame different elements for its present state. Istanbul resident Halime Duman mentioned folks elevating costs to enlarge earnings have been responsible for the hovering price of dwelling. “(Erdogan) can solve it with a flick of his wrist,” she mentioned, taking a break from buying at a farmers’ market in central Istanbul. The opposition, together with Kilicdaroglu’s opposition alliance, is all speak, in her opinion.

“They don’t take action,” she mentioned.

Birol Baskan, an writer and political analyst not affiliated with any get together, mentioned even “hardcore” Erdogan supporters do not deny that the economic system just isn’t doing in addition to it did earlier in his rule.

“The reason why this party kept winning was because it delivered to voters certain material benefits. This is the first time that magic seems not to be working because of the economy, because of the high inflation (and) increasing cost of living.”

“It badly hurt people’s pocket and that’s why I guess winning this election is no longer so assured.”

‘NOTHING BUT HUNGER’

Some voters usually are not assured that the opposition would instantly alleviate financial issues both. Talat Gul, a marble mason, has by no means voted for the AKP or its allies. He presently sees “nothing but hunger” round him, however doubts issues will rapidly change for the higher if the opposition wins.

“They have created in the last 21 years a Turkey that cannot be changed. It will take 20 years to recover, whoever comes to power. But I just want (Erdogan) to go,” he mentioned, strolling across the farmers’ market.

Ekinci, the barber, has but to determine whom to vote for among the many three candidates standing towards Erdogan. “(Kilicdaroglu) may be an honest person… but they have not announced anything to convince me,” he mentioned.

“I want the dollar exchange rate to decline (after the elections). I want the price of petrol to fall. I want inflation to fall,” Ekinci mentioned.

“I want to go back to my life of five or six years ago. I want to be able to go on a picnic, travel abroad.”

($1 = 19.4961 liras)

Reporting by Ali Kucukgocmen; Additional reporting by Jonathan Spicer and Birsen Altayli; Editing by Susan Fenton

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