Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
Finance Minister Mehmet Şimşek stated that the additional fees to be collected through new proposal submitted to the parliament will be used for the construction of defence systems like Steel Dome, rather than reducing the budget deficit. The ruling Justice and Development Party (AKP) has introduced a controversial bill to the parliament that would require
Türkiye’s ruling Justice and Development Party (AKP) has introduced a controversial bill to the parliament that would require high-limit credit card holders to pay an annual fee to bolster the country’s defense industry fund. Under the draft legislation, credit card holders with limits of 100,000 Turkish lira ($2900) or more would be required to pay
We are growing increasingly tired of repeating the same refrain. The world is indeed undergoing a profound transformation in its energy landscape. Countries across the globe are striving to reduce carbon emissions, driven by a shared desire to safeguard our planet and future generations. Global attention has shifted towards lessening dependence on fossil fuels—oil, natural
Turkish Banking Regulation and Supervision Agency (BDDK) Deputy Chairman Mustafa Aydın is under scrutiny for accepting substantial wedding gifts from bank executives whom he is responsible for regulating. Treasury and Finance Minister Mehmet Şimşek, upon returning from a trip to the United States, immediately ordered an investigation into the matter, stating that “necessary actions will
Turkish Vice President Cevdet Yılmaz unveiled the Medium Term Program (MTP), outlining Ankara’s economic roadmap for the next three years. The MTP marks a crucial juncture for both the country’s economic recovery efforts and the political future of both President Tayyip Erdoğan and Erdoğan’s Justice and Development Party (AKP) government. While numerous questions arise, the
On the morning of August 2, millions of Turkish users found that Instagram had been blocked. By 9:30 PM on August 10, access to the platform was restored. However, the reasons for the block, and the circumstances leading to its lifting, remain shrouded in mystery. One popular theory suggests that the ban was triggered by
Are you ready to face the harsh realities of life in Türkiye? Behold the absurdity: according to the United Public Workers’ Union Confederation’s research, the hunger threshold rose by 202 liras in July to a staggering 20,776 liras, while the poverty threshold climbed to 62,302 liras. How did we achieve this? Through the successful economic
In Türkiye’s busy agenda, the visit of a high-level Turkish delegation to Niger on July 17 should be read as an important stage in the Türkiye-France rivalry that has recently come to the fore in Africa, beyond extensive bilateral contacts and agreements. The oil and gas agreements signed with the West African country of Niger
Unless the Minister of Treasury and Finance or the Governor of the Central Bank is suddenly dismissed, as it happened before, and the current ‘lacking’ economic program continues to be implemented, inflation in Türkiye could reach 40 percent by the end of 2024 and around 30 percent by mid-2025. Even if this happens, Türkiye will
Türkiye has long been considered an advantageous country for foreign direct investment due to its young population and cheap labor. However, recent studies indicate that this is no longer the case. Statements frequently voiced by government officials, such as “Our industrialists do not want the Syrians to return, the wheels will stop if they do,”