"How the Hike in Oil Prices Hits Turkish Economy?
Muzaffer Vatansever&Mustafa Kutlay
Wednesday , 09 July 2008
How the Hike in Oil Prices Hits Turkish Economy?
1. The Surge in Energy Prices: An Overview
The world economy is passing through hard days due to the global financial turmoil. Worse than that, the “stagflation” fears create a dismal atmosphere amongst the economic and political environments. The slow down in the world economy as well as the inflationary pressures force Central Bankers to take radical measures as Fed does. As it is obvious, one of the main reasons of ascending inflation is the surge in energy, especially oil, prices. Oil prices increased dramatically on average terms within the last six months period, and break records by reaching to near 140$."
More:Turkish Weekly Comment - How the Hike in Oil Prices Hits Turkish Economy?
