OREANDA-NEWS  Russian tourists are faced with a rapid increase in prices in Turkey, which may decrease this year, economic columnist Mustafa Recep Ercin told RIA Novosti.

The value of the Turkish lira (TL), which recently updated the historical minimum against the dollar (30 lira per dollar), may fall even more, and by the last quarter of 2024 reach the level of 37 lira per dollar, Halk TV channel reported earlier. Market participants in a survey conducted by the Central Bank of Turkey last week predicted the dollar/lira exchange rate at 40.63 by the end of the year.

"Over the past three months, the dollar's exchange rate against TL has increased from 28 to more than 30. The general expectations for 2024 are that the dollar exchange rate will be 39-40 TL. This, of course, means an increase of about 33-35 percent. The inflation expected by the Central Bank at the end of the year in 2024 is 36 percent, and in the market it is 40-45 percent. Russian tourists have already faced a rapid rise in prices in the service sector, rather than an increase in the exchange rate in Turkey. We expect that this growth will subside to some extent in 2024," the expert said.