President Erdoğan hosted the members of the Turkish Jewish Community and the representatives of the Alliance of Rabbis in the Islamic States (ARIS) under the chairmanship of Izak Haleva, the Chief Rabbi of Turkey. He emphasized the importance of Turkey – Israel relations. “Turkey-Israel relations are vital for the stability and security of our region.
Turkish Ministry of Treasury and Finance Minister Nureddin Nebati detailed the fiscal moves announced by President Tayyip Erdoğan on December 20, which aimed to take recent fluctuations of the Turkish Lira under control with a new system. The positive side of the new system is as follows: The announced decisions have prevented the out-of-control increases
Turkey’s President Recep Tayyip Erdoğan announced ambitious “fiscal policy” moves on December 20 to curb the currency crisis wherein less than a month, the Turkish Lira had lost almost 20 percent of its value against foreign currencies. Could this new turn be a sign of ruling Justice and Development Party (AKP) and its alliance Nationalist
The ruling Justice and Development Party’s (AKP) insistence on keeping interest rates low, despite high inflation and depreciation in TL, and its introduction of risky financial instruments such as “foreign-currency protected TL deposits” simply to avoid interest rates raises curiosity among observers of Turkish politics. Students of Turkish politics seek answers to why the ruling
Turkey’s President Tayyip Erdoğan unveiled new fiscal policy tools to be implemented to overcome the recent currency crisis and further boost export-led economic growth, emphasizing that “Turkey will not drift apart from the free-market economy.” “Turkey has neither the intention nor the need to take the slightest step back from the free market economy and
Turkey’s economy was on the verge of a critical turn even before President Tayyip Erdoğan treated Turkey’s Industry and Business Association’s (TÜSİAD) public announcement against the ruling Justice and Development Party’s (AKP) policies as a declaration of war. After TÜSİAD defined the recent monetary move to cut policy rates as “wrong” and urged the government
President Recep Tayyip Erdoğan ignores that what happened on December 17 was a financial crisis. Main opposition Republican People’s Party (CHP) leader Kemal Kılıçdaroğlu names it as “Turkey being dragged into a disaster,” and openly questioned the health of Erdoğan’s “mental faculties.” Opposition İYİ (Good) Party leader Meral Akşener said that the crisis is now
When President Tayyip Erdoğan announced the following year’s minimum wage as 4,253 Turkish Liras per month on December 16, he said, “do not compare it to its dollar value.” I think he knew what people would ask if they calculate the wage on US dollars because when the amount of the minimum wage is calculated
Turkey and Armenia named special envoys to be acted on the efforts to normalization of the mutual relations of the two countries, after Turkey’s Foreign Minister Mevlüt Çavuşoğlu’s call was received positively by Armenia. Armenia’s Foreign Ministry spokesperson announced that the Deputy Speaker of the National Assembly of the Republic of Armenia Ruben Rubinyan was
President Tayyip Erdoğan made the long-awaited statement on December 16 and declared the minimum wage as 4253 liras. This statement came after the Central Bank cut the policy rate from 15 percent to 14 percent. In the morning hours, the dollar already exceeded the 15 lira bar and thus settled at the level of 15.5