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Turkey’s Construction Sector in Crisis

The collapse in Turkey’s currency and surging interest rates have plunged the country’s construction industry into recession.  The construction sector was the driving force of the country’s booming economy and with it President Recep Tayyip Erdogan’s electoral success. Istanbul’s Fikirtepe district is the center of a massive urban redevelopment project, but dozens of cranes are idle, with most workers laid off.  Turkey’s once-booming construction sector has come to a grinding...

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