Question

Explain the economic challenges faced in Turkey. Your answer should be written in three or more complete sentences.​

Answer 1

Turkey is facing several economic challenges in the current time. One of the major challenges faced by Turkey is inflation which is due to the devaluation of its currency. Another challenge is the high unemployment rate. Many people in Turkey are unable to find work, which leads to poverty and social unrest. Additionally, the country is dealing with a large current account deficit, which means it is importing more than it is exporting. These challenges are affecting the overall economic growth of Turkey.

Answer 2

Many countries of the Middle East depend on oil as their primary source of income. In the short term, the economies of these countries are doing well, making a good profit from selling oil to other countries. However, in the long term, oil-dependent economies may suffer. Oil is a limited, nonrenewable resource, meaning that when reserves run out, they are gone forever. The oil-rich nations of the Middle East will have struggling economies if their oil supply ever runs out. The solution to this problem is to plan ahead. Countries are starting to focus their economies on other industries, such as banking and tourism. They are restructuring their economies to focus on multiple profitable industries.

Step-by-step explanation:

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