WHY TURKEY IS STUCK IN THE MIDDLE-INCOME TRAP
At the turn of the year, a familiar ritual repeats itself in Turkey. Gyms raise their membership fees. Tradespeople adjust their prices. Real estate agents pocket higher commissions by systematically pushing up sale prices. Hardly anyone objects. Hardly anyone asks what added value is being offered. Price hikes are taken for granted — not because products have improved, but because inflation exists.