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Economy

Turkey pays heavy price for Erdogan's authoritarian touch

Investment, tourism, currency all continue to suffer a year after coup attempt

Anti-Erdogan demonstrators rally in Istanbul on July 9.

ISTANBUL -- One year since the attempted military coup that shook Turkey, the country is still suffering economic consequences from the subsequent crackdown by President Recep Tayyip Erdogan and deteriorating ties with Europe.

Auto parts maker Birinci Otomotiv saw an 8 million euro ($9.17 million at current rates) deal with a European company fall apart at the last minute in March, according to Vice Chairman Yakup Birinci. If completed, it would have amounted to a quarter of the company's annual sales.

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