Monday, 18 December 2023 04:42

Turkey’s Central Bank governor can’t afford house rent, moves into parents’ home

Rate this item
(0 votes)

Hafize Erkan, Turkey’s central bank governor, says she has been forced to move in with her parents due to the country’s inflation.

Speaking to Turkey’s Hürriyet, Erkan said her decision was hinged on the increase in rents due to the lack of social housing — of which the country’s rising inflation is a contributory factor. 

Erkan, who took up her post in June after two decades in the United States, said when there is a lack of supply and cheap financing, “balances can sometimes be disrupted”. 

“Here, the most important problem for us is the supply of social housing. There is an increase in rents due to the lack of social housing,” she said. 

She said “our President and Vice President also focus on this issue” of increase in rents.

“Home and food are very important. It has been a long time since our state solved the health issue. Is it possible that Istanbul has gotten more expensive than Manhattan? We haven’t found a house in Istanbul. It’s terribly expensive. We settled with my parents and are staying with them,” Erkan said. 

In November 2023, Turkey’s inflation rose 62 percent year-on-year.

This followed a 61.36 percent annual increase in October — a trend triggered by the depreciation of the Turkish currency, lira.

 

The Cable

March 17, 2025

Solar panel imports surge amid Nigeria’s worsening electricity crisis

Nigeria imported N237.3 billion worth of solar panels in the last quarter of 2024, underscoring…
March 16, 2025

El-Rufai speaks further on Tinubu’s presidency, Chicago scandal, other issues

Former Kaduna State Governor Nasir El-Rufai has revealed that he and other political leaders were…
March 17, 2025

7 so-called ‘status symbols’ that only impress the middle class

Isabella Chase Picture this – you’re in a room full of people, and someone walks…
March 01, 2025

Man offers to split $525,000 jackpot with thieves who stole his credit card to buy…

A Frenchman appealed to the homeless thieves who stole his credit card to buy a…
March 14, 2025

Gunmen invade Kaduna communities, abduct 10

Suspected bandits have abducted ten villagers from three remote communities in Kajuru Local Government Area…
March 17, 2025

Here’s the latest as Israel-Hamas war enters Day 528

Yemen's al-Houthi leads defiant force under US attack Abdul Malik al-Houthi, the leader of Yemen's…
March 15, 2025

Humanoid robot with human-like competence unveiled in China

Du Qiongfang Humanoid robot manufacturer AgiBot in Shanghai unveiled on Tuesday its latest humanoid robot…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.