In statements they issued on May 9 and 10, representatives of non-Muslim communities in Turkey expressed their worries about potential racist attacks, asking the Turkish government to take the necessary measures to protect them. The common denominator between the statements that the Turkish Jewish Community, the Greek Orthodox Patriarchate and the Armenian Patriarchate was a
Emerging markets’ currencies depreciate rapidly during times of crisis. This is because the risk appetite declines during crisis and emerging markets experience capital outflows. Those with macroeconomic imbalances are affected the most.Because Turkey was far from achieving price stability when COVID-19 crisis hit, it is experiencing more problems on the currency front. The rate cuts
Climate change due to global warming causes different effects in many areas of life. Climate change causes not only microbe-generated outbreaks that threaten human health. They also cause other negative processes that affect the fitness of species that are components of biodiversity. These observations do not need to be spread over many years anymore. Negative
When I started compiling information to write this article, 1 US dollar was 7.24 Turkish lira level. As I was writing these lines, the dollar had increased to the level of 7.25 liras. When Treasury and Finance Minister Berat Albayrak was brought to office by President Tayyip Erdogan, who is also his father-in-law, on June
President Tayyip Erdogan gets angry and fuming whenever someone criticizes his unique “Presidential Government System”, of being a one-man rule.But let’s take a look at a news pieces from May 6.Here is one of them: Protective mask selling prices will be submitted to Erdoğan for approval. Until a few days ago, Erdoğan had been stressing
From the cabinet meeting on May 4, President Tayyip Erdoğan made statements that could be considered as a turning point in the fight against the Covid-19 outbreak. Firstly, he said that the “Normalization Plan” will be spread out to the months of May, June, and July; not all at once. He expressed that if the
We continue to stay at home and isolated during the corona days. We have very good opportunities at home to intertwine life with a little more science. When the restrictions are over, the opportunities that we can put in the first place of the isolation brought us. I think you started thinking about what could
Prominent U.S. think tank, the Atlantic Council, held a remarkable video conference on April 30, looking into Turkey’s relations with the U.S. as well as its economic trajectory. The meeting was striking because of two main reasons. The Turkish government wanted to be among the countries benefiting from the convenient SWAP option to ease the
In the inflation report that came on April 30, Turkish Central Bank (CBRT) revised its inflation forecast for 2020 from 8.2 percent to 7.4 percent. The forecast for 2021 is kept constant at 5.4 percent.How realistic is this revision? In the short run, the downfall in demand and the fall in oil prices may dominate
The Covid-19 pandemic has a growing negative impact on economies all around the world. In an earlier study, we estimated the possible output and employment effects of the Covid-19 pandemic in Turkey. Our predictions, based on an analysis using the 2012 IO table and the 2017 output and employment data, suggested that the non-agricultural labor