Turkey's tumbling lira is causing major headaches for the country's small businesses. Shoppers and shop-owners alike are feeling the pinch from the decline in the currency and double-digit inflation. Will their grievances about Turkey's economic conditions impact the upcoming presidential election? Guan Xin reports.

Turkish farmer Abdulkadir Cekic was already struggling to make a living, buried under by a bank loan he took out for the purchase of a harvesting machine. The tumbling of the Turkish currency is adding salt to the wound, considerably increasing the cost of his yearly payments.

ABDULKADIR CEKIC TURKISH FARMER "I have no profits. We suffer because of the barley prices. We suffer because of gas prices. We suffer because of foreign currency exchange rates. We're suffering from every direction."

The lira slid to a series of record lows in May amid a global currency sell-off. That was in part due to investors shifting their money into higher-yielding investments in the United States. The drop forced the Turkish Central Bank to sharply raise its key lending rate to stem capital outflows. The move helped the currency regain some of its value. But economists fear the country may not be out of the woods just yet.

OZLEM DERICI SENGUL ECONOMIC ANALYST "When we look at all macro, main indicators we see high growth rate but high inflation, high current account deficit, high exchange rates, high interest rates. As I said at the beginning, it's (the economy) very fragile."

Turkey's economic troubles have emerged as a key issue as the country heads into presidential and parliamentary elections on Sunday. The elections will usher in a new governing system, switching Turkey from a parliamentary democracy to an executive presidency. Incumbent President Recep Tayyip Erdogan is widely expected to be re-elected. But concerns over Erdogan's economic policies and his strong opposition to rate hikes are holding investors back. Erdogan has vowed fiscal discipline and moves to rein in inflation and current account deficit after the elections. But analysts suspect that would not make much of a difference to Turkey's already embattled economy.