Analyst Warns of Intra-Alliance Volatility in Opposition Group of Six

LOCAL NEWS

• Local Analyst warns that intra-alliance volatility is inevitable in the opposition alliance as members jostle for top position in the 2023 presidential race.
  • Over the Eid Al-Fitr holiday, Istanbul Mayor Imamoglu conducted visits to the Black Sea region that held tha hallmarks of a campaign visit although he has not been formally selected as the candidate over CHP chair Kilicdarogu, despite his higher polling scores. https://www.dailysabah.com/opinion/columns/confusi...
• Dunya news warns that dollarisation is on the rise once again after USD/TRY broke throygh 15.00. Says both the public and companies have grown in need of foreign currency, mainly due to energy prices. Rising costs are causing the deteriorating current account balance, as well as exponential raw material prices for companies, to increase demand for foreign currency.
  • Experts say Govt’s management of FX transactions also results in the demand of both citizens and companies to be brought forward with restrictions derailing expectations and boosting demand. They fear tighter steps could be taken in the near future. – Dunya
• Turkish Government plans 1-3 year imprisonment for hoarding goods to push prices higher according to the latest decree via the justice minister. This follows a rise in CPI to 70% in April, but independent inflation research group ENAG says the real number is closer to 156.86% - Ahval