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Erdogan Reshuffles Turkish Statistics Agency as Inflation Soars

admin-augaf by admin-augaf
November 12, 2022
in Finance, International, Politics
Reading Time: 1 min read
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Erdogan Reshuffles Turkish Statistics Agency as Inflation Soars

Turkish President Tayyip Erdogan addresses members of parliament from his ruling AK Party (AKP) during a meeting at the Turkish parliament in Ankara, Turkey, November 2, 2022.

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Istanbul November 12 2022:  Turkey’s official statistics agency is undergoing a major reshuffle under President Recep Tayyip Erdogan, fueling a controversy about its independence and the accuracy of its inflation data as consumers face runaway costs.    

In the latest twist, Deputy Chairman Fatih Sahin was removed from his post, according to a decree published late in the official gazette. He had served in the role for eight months. 

A successor hasn’t been named, an agency official said, adding that Sahin wasn’t directly responsible for statistics and calculations.

The Turkish Statistical Institute, known as TurkStat, has seen a massive overhaul in its management since the start of the year. The chairman and three out of six deputies were replaced after being in their positions for no more than 18 months. Two department heads in charge of inflation data have also resigned.  

Meanwhile, inflation in the country has roared. Consumer prices rose by annual 85.5% through last month, while producer prices increased 158%, according to TurkStat. There has been a discrepancy between the agency’s inflation figures and calculations from the Istanbul Chamber of Commerce and independent groups.

TurkStat’s critics in the opposition have previously said its figures aren’t trustworthy, hiding true inflation to please Erdogan as the economy suffers. The agency has denied the accusation, saying it operates without political intervention and that its data are in line with European peers. 

Source: Bloomberg
Tags: ErdoganInflationTurkey
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