Economies are collapsing, currencies are falling, and Turkey is out of this equation
Last Updated: 2023-01-05
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After the Corona crisis ravaged the world's economies and scientists reached anti-virus vaccines, and as soon as things began to improve and recover, the Russian-Ukrainian war took place, which was like the hair that broke the camel's back.
In light of this setback, many Arab countries recorded a sharp decline in their currencies, such as the Egyptian pound, the Jordanian dinar, and the Iraqi dinar. As for the Lebanese and Syrian lira, the situation continues before the Russian-Ukrainian war, and even before Corona, and they are still achieving record numbers of decline.
The situation is not better in Europe, as the economic crisis has exhausted the old continent, which is no longer resisting as before, and the euro recorded a decline several times against the US dollar, especially after Britain’s exit from the union, but the pound sterling recorded a noticeable decline and tax storms in the British economy. In addition, the arrival of the extreme right to power in Italy and the continuation of the Catalonia region in Spain to demand secession from Spain will show its consequences sooner rather than later.
What made matters worse was the position of the European Union on the Russian-Ukrainian war, as it stood with Ukraine and imposed economic sanctions on Russia, which prompted Russia to respond in kind to turn the magic on the magician and Europe suffers from the gas crisis and the scarcity of fuel in the height of the harsh winter.
And by going east towards Asia, where the Chinese dragon from which the spark of Corona erupted and struck the world, and despite the Chinese government’s adoption of strict decisions, tightening and restrictions, the Corona crisis has returned to the fore and is worse than before and caused an economic crisis in China whose consequences are not known yet.
However, Turkey charted its way away from these crises, improving its economy despite the rise in the dollar and the crises the world is witnessing, and Turkish President Recep Tayyip Erdogan indicated at the beginning of this year 2023 that the value of exports last year amounted to 254.2 billion dollars.
Of course, the Turkish real estate market witnessed a remarkable demand, and the demand for foreigners, especially Russians and Ukrainians, increased, in addition to programs for granting Turkish citizenship by purchasing real estate in Turkey after achieving very simple conditions. Therefore, real estate investment has become one of the most successful options for every investor who wants to grow his money without fear of loss.
Edited by Mersat Real Estate Team ©
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