section_path: Economic impact by continent, region and country/Europe/Turkey
section_name: Turkey
paragraph_text: Turkey
  
  An ongoing economic crisis in Turkey was exacerbated by the COVID-19 pandemic. Sale of Turkish goods worldwide fell due to the global economic slowdown. President Recep Tayyip Erdoğan cut interest rates in late 2021 in response to a surge in inflation of the Turkish lira.