RUSSIA - PERU Declares STATE OF EMERGENCY After PROTESTS on RISING FUEL & FERTILISER Turn VIOLENT
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PERU recently declared a STATE OF EMERGENCY and Announced a 24 HOUR CURFEW after Protests against RISING FUEL & FERTLISER PRICES turned to VIOLENCE. The recent price rises have left people UNABLE TO BUY FUEL & FOOD and thrown the country into CHAOS. The Rising Price of IMPORTS has now left the Economy is now on the BRINK OF COLLAPSE. These problems follow on from similar issues in EGYPT and SRI LANKA and show the issues being caused all across the WORLD as a result of spiraling prices due to the WAR IN UKRAINE.
For specific details please check out the CHAPTER list below.
In this video I continue to look at the continuing implications of the Russia's Invasion of Ukraine on TURKEY. Rising OIL and GAS Prices as a result of the War are putting immense stress onto the Turkish Economy. INFLATION has now risen to 61%, the highest level for over 20 YEARS , ENERGY COSTS have increased 156% and the TRADE DEFICIT now stands at $8.24 BILLION. In addition the COST of the DEPOSIT PROTECTION SCHEME is running at around $18 BILLION. Based on the current rate of spending on Energy the Foreign Currency Reserves will not last much longer.
TURKEY is under extreme pressure due to HIGH INFLATION and the Fall in Value of the LIRA. Turkey is dependent upon Foreign Energy and Buys 45% of NATURAL GAS, 17% of OIL and 40% of GASOLINE from RUSSIA. Turkey is also dependent upon the IMPORT of GRAIN and RAW MATERIALS for its Industry. The immediate impact of the WAR has been to increase the price of OIL, GAS, FOOD and RAW MATERIALS. With INFLATION already at 61% these price increases will add further strain and may cause the Economy to COLLAPSE.
For specific details please check out the CHAPTER list below.
T Chapters: 0:00 Intro 2:09 INFLATION 5:49 BALANCE OF TRADE 8:21 TRADE DEFICIT 10:29 DEPOSIT PROTECTION SCHEME 14:46 ECONOMIC POLICY 18:12 OUTLOOK 20:25 SUMMARY & CONCLUSION 23:52 JOE BLOGS 2