The coronavirus outbreak is expected to hit every economy in the world. However, in each country the virus consequences may have different character and duration. Developed countries will hardly suffer as severely as emerging countries. For example, Turkey’s economy is under a real threat with its poor condition even before the pandemic. At the moment, the country is on the edge of the economic collapse. Moreover, Turkish president Recep Erdoğan is not even trying to shore up his country’s economy. The COVID-19 outbreak has resulted in the deterioration of the existing problems, which are obvious to everybody except the Turkish government. Finance Minister Berat Albayrak said on March 19th, that he had "no concerns" about Turkey’s ability to meet its economic growth, budget, and inflation targets for 2020. He also expects GDP growth at 5%. The fact is that Turkey’s central bank has lost its power, credibility, and most of its reserves. Moreover, the regulator downplays the pandemic’s threat. "With its dynamic structure, the Turkish economy will be among those that will get over this process with minimum damage and in a short time," central bank Deputy Governor Oguzhan Ozbas said. The Turkish government has painted a too optimistic picture about the coronavirus impact. However, local businesses that are suffering great losses need large and timely government support. Besides, optimism is not enough to cure infected people.
