Gas prices have risen by 30 percent and electricity prices have have risen by 15 percent.

The country's GDP increased by 7.3 percent to 179.8 billion US dollars in the first quarter of 2022.

"The global economy is going through a difficult time. High increases in commodity prices, problems in the supply chain and rising prices in transportation caused inflation to rise sharply all over the world," Nebati has remarked.

"Increase in inflation is driven by rising energy costs, temporary effects of pricing formations that are not supported by economic fundamentals, and strong negative supply shocks," the bank has said.

The court has concluded that the company had fired three workers because of their union activities.

As the economic crisis deepens in Turkey, shopkeepers in the Beyoğlu district of İstanbul consider shutting down their shops.

Releasing an information note ahead of the Davos summit, Oxfam said 263 million more people will crash into extreme poverty this year, at a rate of a million people every 33 hours.

The number of doctors leaving the country increases every year. Some 1,405 doctors left the country in 2021. This year, it is expected to be much higher.

More than 60 percent of the public holds the government responsible for the crisis, whereas 23 percent of all voters and half of the AKP voters blame "foreign powers."

Citizens of Russia, Iran and Iraq bought the highest number of residential properties in April, according to TurkStat.

The country's 12-month rolling deficit reached 24.22 billion dollars in March, according to the Central Bank.

In the first four months of the year, at least 479 workers were killed on the job. Construction and transportation were the sectors with the highest number of deaths.