- Turkish government to cut residential and business electricity rates by 15% and give a 20% discount on natural gas bills for industrial groups in an attempt to ease the cost of living crisis.
- The measures come ahead of a hotly contested election on May 14, which is expected to focus on the state of Turkey’s $900bn economy and the government’s response to the recent earthquake.
- Consumer prices were up 55% in February compared with the same month in 2022, causing the inflation crisis to worsen.
- The Turkish President's unconventional economic policies have weakened the country's currency and harmed his popularity.
- Despite this, Erdoğan remains popular in many constituencies and has acted as a mediator between Russia and the west.
Erdoğan to slash Turkey’s energy bills ahead of tough election
Turkey's President Erdoğan will cut energy bills for consumers and companies ahead of the upcoming election in an attempt to ease the cost of living crisis amid severe inflation and weakened currency.