Turkey’s poor on the brink as lira crashes | DW News

DW News published this video item, entitled “Turkey’s poor on the brink as lira crashes | DW News” – below is their description.

Turkey’s economy is currently experiencing a rapid crash. The Turkish lira is losing value almost daily, and inflation is officially at 36 percent. The poorest people in the country are particularly affected by the inflation.

For example, some 500,000 garbage collectors, rarely earn more than the equivalent of 8 euros a day. Until now, they have made a living from recycling. In large carts, they collect plastic and paper from the street and from garbage containers to sell to recycling collection points. But now the government wants to modernize the recycling system and leave it up to large companies. Istanbul’s garbage collectors are fighting back.

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About This Source - DW News

DW News is a global English-language news and information channel from German public international broadcaster Deutsche Welle, established in summer 2015.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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In This Story: Turkey

Turkey, officially the Republic of Turkey, is a transcontinental country located mainly on the Anatolian Peninsula in Western Asia, with a smaller portion on the Balkan Peninsula in Southeastern Europe.

Istanbul, which straddles Europe and Asia, is the country’s largest city, while Ankara is the capital. The majority of the population identifies as Turkish, around 20% identify as Kurdish.

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