Turkey in last place of Democracy Index because of Erdogan's government

NEWS DESK

Turkey rank at the last country in the list of democratic countries, ranking 41st and last in the Democracy Index for the OECD and EU member states.

The impact of such reports on investment opportunities in Turkey, which is already suffering economy because of several factors, notably the intervention of Recep Tayyip Erdogan, in economic affairs, and the absence of legal security, as well as the controversy caused by the United States and caused a record decline in the value of the Turkish lira.

Sweden, Finland, Norway, Denmark and Germany topped the list of the Democracy Index, while Poland, Romania, Mexico, Hungary and Turkey came in the lowest ranks.

Turkish President appointed himself chairman of the sovereign wealth fund management in the country last month, and he has changed the entire fund wealth board, appointing finance minister Barat Albayrak, his son in law, his deputy.

The measure was the latest in a series of steps taken by Erdogan to seize new powers since he won the June presidential election, and the country has since turned into a powerful executive presidential system.

The lira has lost about 40% of its value since the beginning of the year, listing a record low of 7.2 lira to the dollar in mid-August.

The falling lira has pushed up food and fuel costs and pushed inflation up to 18%, its highest level in 15 years.

H/S

ANHA