The Turkish economy partially recovered after the pandemic by growing 7 percent in Q1 2021. But high inflation rates continue to put pressure on the MEB.
Amidst the volatile environment of the pandemic, widespread vaccination process and normalization steps reflected a positive outlook for the Turkish economy. The economic growth in Q1 2021 was actualized as 7 percent. However, energy prices are on the rise, and the annual inflation rate is 17.5 percent whereas the food inflation rate is higher at 20 percent. This is reflected in the Minimum Expenditure Basket as it increased by 16 percent annually between June 2020 and June 2021.
