Excessive Political Interference in Turkey's Economy

The political tension between Washington and Ankara, which began with the Syrian civil war and peaked with the arrest of an American pastor on espionage charges, has recently plunged Turkey's economy into an unprecedented crisis. Rising prices, capital flight from the country, increasing inflation and unemployment rates are among the short-term and long-term consequences of the economic policies exacerbated by political tensions with the U.S. Both countries have raised tariff rates on certain imported products, and Washington and Ankara have sanctioned two ministers from each other's governments. The unprecedented fall of the Turkish lira against the U.S. dollar is one of the outcomes of this political tension and economic crisis, which according to Fereydoun Khavand, an economist based in Paris, is due to excessive political interference in the country's economy.