Zürcher Nachrichten - High energy prices put more pressure on Turks

EUR -
AED 3.819451
AFN 72.930872
ALL 98.409735
AMD 411.854041
ANG 1.871113
AOA 948.369492
ARS 1066.553725
AUD 1.664339
AWG 1.871783
AZN 1.77144
BAM 1.953413
BBD 2.096238
BDT 124.068378
BGN 1.95598
BHD 0.392264
BIF 3070.048132
BMD 1.039879
BND 1.410776
BOB 7.174232
BRL 7.00655
BSD 1.038231
BTN 88.374998
BWP 14.419378
BYN 3.397648
BYR 20381.63186
BZD 2.089147
CAD 1.492903
CDF 2984.453519
CHF 0.935522
CLF 0.037283
CLP 1028.741995
CNY 7.589975
CNH 7.597581
COP 4588.789229
CRC 527.155769
CUC 1.039879
CUP 27.556798
CVE 110.130411
CZK 25.14584
DJF 184.807541
DKK 7.460406
DOP 63.242712
DZD 140.622878
EGP 52.924961
ERN 15.598188
ETB 132.19145
FJD 2.411116
FKP 0.823566
GBP 0.828989
GEL 2.921965
GGP 0.823566
GHS 15.261349
GIP 0.823566
GMD 74.871252
GNF 8973.034166
GTQ 7.997227
GYD 217.214545
HKD 8.077464
HNL 26.378763
HRK 7.458956
HTG 135.754097
HUF 410.679663
IDR 16840.583294
ILS 3.795803
IMP 0.823566
INR 88.613876
IQD 1360.037915
IRR 43765.917235
ISK 145.094642
JEP 0.823566
JMD 161.762312
JOD 0.737588
JPY 163.600003
KES 134.18592
KGS 90.469239
KHR 4172.90035
KMF 484.713724
KPW 935.890677
KRW 1521.499712
KWD 0.32047
KYD 0.865243
KZT 537.852697
LAK 22705.252193
LBP 92972.479485
LKR 305.986058
LRD 188.959075
LSL 19.305008
LTL 3.070493
LVL 0.629012
LYD 5.096771
MAD 10.469905
MDL 19.15559
MGA 4897.015418
MKD 61.536195
MMK 3377.487002
MNT 3533.509307
MOP 8.30565
MRU 41.44535
MUR 48.946988
MVR 16.013038
MWK 1800.299876
MXN 20.991781
MYR 4.643578
MZN 66.452157
NAD 19.305008
NGN 1602.619851
NIO 38.203312
NOK 11.807693
NPR 141.400197
NZD 1.842075
OMR 0.400395
PAB 1.038231
PEN 3.866075
PGK 4.21385
PHP 60.405512
PKR 289.040068
PLN 4.259874
PYG 8097.104629
QAR 3.775985
RON 4.974769
RSD 117.013786
RUB 103.974418
RWF 1448.330014
SAR 3.90412
SBD 8.717884
SCR 14.825582
SDG 625.481952
SEK 11.522256
SGD 1.412962
SHP 0.823566
SLE 23.711993
SLL 21805.749542
SOS 593.374844
SRD 36.456046
STD 21523.399447
SVC 9.084897
SYP 2612.72788
SZL 19.313397
THB 35.574372
TJS 11.358119
TMT 3.649976
TND 3.310454
TOP 2.435502
TRY 36.592443
TTD 7.055378
TWD 34.052718
TZS 2517.114881
UAH 43.532599
UGX 3800.355632
USD 1.039879
UYU 46.213523
UZS 13403.619603
VES 53.632376
VND 26449.326855
VUV 123.456538
WST 2.872965
XAF 655.156342
XAG 0.035142
XAU 0.000397
XCD 2.810325
XDR 0.796027
XOF 655.156342
XPF 119.331742
YER 260.35977
ZAR 19.402513
ZMK 9360.162731
ZMW 28.732886
ZWL 334.840671
  • BCE

    0.0600

    22.9

    +0.26%

  • SCS

    0.0800

    11.73

    +0.68%

  • BCC

    0.9500

    123.19

    +0.77%

  • NGG

    -0.1600

    58.86

    -0.27%

  • RIO

    -0.0300

    59.2

    -0.05%

  • JRI

    0.0500

    12.15

    +0.41%

  • CMSC

    -0.1321

    23.77

    -0.56%

  • CMSD

    0.1000

    23.65

    +0.42%

  • AZN

    -0.3300

    66.3

    -0.5%

  • GSK

    -0.0300

    34.03

    -0.09%

  • RELX

    0.3000

    45.89

    +0.65%

  • BTI

    0.0400

    36.26

    +0.11%

  • RBGPF

    59.8000

    59.8

    +100%

  • RYCEF

    -0.0100

    7.24

    -0.14%

  • VOD

    0.0600

    8.43

    +0.71%

  • BP

    0.0400

    28.79

    +0.14%

High energy prices put more pressure on Turks
High energy prices put more pressure on Turks

High energy prices put more pressure on Turks

When temperatures plunged well below freezing in Ankara and energy prices soared, Dondu Isler had to make a tough choice to both stay warm and keep her soaring utility bills down.

Text size:

She turned off the heating in two bedrooms of her apartment.

"Only the living room and the kitchen were heated, but at a minimum. We try to keep warm with blankets," the 61-year-old woman said.

Energy prices in Turkey and other countries have soared in the past year due to recovering demand and geopolitical tensions.

But Turks have also seen their overall purchasing power dwindle dramatically amid a currency crisis and two-decade high inflation that reached almost 50 percent last month.

Isler and her husband do not know how they will pay their bills, rent and food in the future.

Their only income is the meagre retirement benefits -- worth 2,400 Turkish liras ($177) a month -- earned by her husband, who worked as a construction site guard.

They paid 380 liras for electricity and gas in December. Their January bills more than doubled to 960 liras.

Other Turks face the same problem as electricity bills soared between 52 percent and 127 percent in January, depending on consumption.

Adding gas, many Turks have found themselves with bills that have doubled or tripled.

Some bars now even add an extra charge of four liras (29 cents) to customers who drink on heated terraces.

The currency crisis came last year after President Recep Tayyip Erdogan put pressure on the central bank to cut the main interest rate despite rampant inflation -- the opposite of conventional economic thinking to fight off rising prices.

The lira lost 44 percent of its value against the dollar last year as Turks rushed to buy gold and foreign currency.

Many Turks have fallen below the poverty line, which stands at $4.3 per day.

- Breakfast is a 'luxury'-

Inflation has become a sensitive subject in Turkey, less than 18 months before a general election during which the rising cost of living will likely dominate.

The opposition accused the state statistics agency of underestimating the rate of inflation and independent Turkish economists said consumer prices reached over 110 percent in January.

Hacer Foggo, founder of the Deep Poverty Network NGO, said record inflation was impoverishing every segment of society.

"Several families have been forced to drastically cut the amount they spend on food. Breakfast foods like eggs, cheese and olives have become luxuries," she said.

Once relatively resistant to crises, the middle class is now also under pressure.

"They've seen their rent double or triple, and they're forced to look for small homes or in areas further away from the city centre," Foggo told AFP.

But the consequences for the poorest are more dramatic since they can no longer count on financial assistance from their friends or family.

"We believe 160,000 children and young people have dropped out of school in 2021. I personally know several of the families helped by our NGO," she said.

"Some feel obliged to contribute to the family income and leave school to work. Others leave school because they cannot pay for transport or other expenses."

With sharp increases in food including basic goods and baby formula, which has risen by 55.6 percent, malnutrition is now a serious risk for children, Foggo warned.

Some mothers are forced to "give their babies dehydrated soups" instead of formula, she added.

Ali Golpinar, a village chief in a less affluent district in Ankara, has raised funds for the poorest in his neighbourhood for years.

"But we are struggling to raise money because no one has the means to participate," he said.

- Energy bill triples -

Even the association he created where local women can take part in sewing, cooking or jewellery design workshops for free has been affected by higher energy prices.

"Our electricity bill was 93 liras in December. After the price increase, it rose to 348 liras with the same amount consumed," Golpinar said.

Electricity companies cut power off from many residents' homes after they could not pay their bills, he added.

From Mugla in southwestern Turkey to Dogubeyazit in the east, the tripling of energy bills has provoked anger across the country where protests have sprung. More are planned next weekend in Istanbul.

But Erdogan senses the danger. His spokesman, Ibrahim Kalin, on Monday promised to take measures: "We won't let our citizens be crushed by inflation."

O.Hofer--NZN