Once a premium destination for overseas investors, Turkey’s power sector has recently been struggling with the impact of lower-than-expected growth rates, partial market liberalisation and fixed, long-term natural gas contracts. Power generation firms face further stress as the economic impact of the pandemic bites. Efforts to arrange a new debt restructuring deal have been delayed by the virus and wider economic woes, casting uncertainty over future demand. However, the sector retains some high-grade assets, however, which may attract future investor interest.
The popular uprisings associated with the Arab Spring, and recent and ongoing protests in countries such as Iraq, Iran and Lebanon differ in origin, but their underlying causes are similar. The reasons revolt does not lead to real political and economic change are also the same. The fundamental challenge for states in the region is the need to create a productive economy supported by political and social structures that reproduce and expand the welfare of their citizenry. Anything short of that perpetuates rot in the economy and guarantees more unrest and upheaval in the future.