Turkish President Recep Tayyip Erdoğan has signed a series of presidential decrees that raise the value-added tax (VAT) rate from 18 percent to 20 percent and increase public fees by 50 percent. The decrees, which took effect immediately on July 7 also raise the revenues from betting to 10-15 percent and the Banking and Insurance
The Turkish Statistical Institute (TurkStat) on July 5 announced a further deceleration in the skyrocketing inflation hike in the country to 38 percent as the Consumer Price Index (CPI) increased 3 percent in June. TurkStat announced on July 5 that the CPI rate increased by 3,92 percent in June and that the annual CPI was
Turkish President Recep Tayyip Erdoğan, on June 29, reacted harshly to the Quran burning demonstration in Stockholm, the capital of Sweden; further hinting that Türkiye will not lift its veto on Sweden’s NATO bid prior to critical Vilnius Summit to be held in July. “Those who perpetrated this crime, as well as those who allowed
The Central Bank of the Republic of Turkey (CBRT) raised the policy rate to 15 percent on June 22 after almost two years of low-interest rate policies The the Monetary Policy Committee (MPC) which held its first meeting under the chairmanship of Central Bank Governor Hafize Gaye Erkan, switched to a monetary tightening policy by
Turkish President Recep Tayyip Erdoğan said that the appointment of Mehmet Şimşek as Treasury Minister should not be contemplated as a change in his cabinet’s economic policies as the former minister’s re-appointment to the post raised the expectations of a shift in low interest rate policy of Erdoğan. However he added that they “accept the
President Recep Tayyip Erdoğan is reelected in the run-off elections on May 28, Supreme Board of Elections head Ahmet Yener announced stating that the preliminary results indicate his victory. Stating that the 99,93 percent of the ballot boxes was counted Yener said that “even if the remaining votes are written to any candidate, the results
Türkiye is once again going to the polls on May 28 to elect its 13th president in the run-off elections amid the devastating effects of two major earthquakes, an economic crisis, increasing political polarization, and ballot-box security concerns. Some 64 million voters cast their ballots to choose between two candidates: President Recep Tayyip Erdoğan and
Turkish people cast their ballot to determine their future president and the parliamentary members on May 14 at a head to head race between election alliances which is considered to be the biggest challenge of President Recep Tayyip Erdoğan in his 21 years of rule with the Justice and Development Party (AKP). The preliminary results
Turkish President Tayyip Erdoğan announced that the National Intelligence Organization (MIT) had “neutralized” ISIS leader Abu Hussein al-Quraishi. Erdoğan announced on live TV on April 30 that MIT neutralized Quraishi, whom had been “followed for a long time,” in an operation in Syria on April 29. The expression “neutralized” usually means “killed” by Turkish security
President Recep Tayyip Erdoğan attended videoconference for Akkuyu Nuclear Power Plant inauguration ceremony on April 27, after falling ill during a television interview on April 27 and cancelled his election programs, which prompted allegations that he had serious health issues. Ankara on April 27 responded rumors over Erdoğan’s health issues especially the one alleged that