Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
The Central Bank has raised its U.S. dollar exchange rate and inflation forecasts for the end of the year, as it predicts a higher-than-expected growth rate.According to the June results of the Survey of Market Participants, the Central Bank expects the dollar to trade at 8.95 Turkish Liras at the end of the year, up
President Tayyip Erdoğan told in a May 26 video conference the executives of 20 prominent U.S. firms that he and U.S. President Joe Biden are seeking a new era in mutual ties despite everything, “Although the statement he made has put an extra burden on our relations, I believe that the meeting I will hold
Polish President Andrzej Sebastian Duda paid an official visit to Turkey on 24 May upon an invitation by President Recep Tayyip Erdoğan. On the same day, at a ceremony attended by Duda and Erdoğan, a contract was signed by Mariusz Blaszczak. the defense minister of Poland, and Baykar Defense General Manager Haluk Bayraktar for the
Turkey’s ties with the United States and European Union have been deteriorating in recent years, but there’s one major Western power with whom its relations have been deepening: the United Kingdom – such that many interpret the close bilateral ties as a new strategic partnership.[1] Perhaps that’s why, in the wake of last month’s Cyprus
President Recep Tayyip Erdoğan announced May 17 financial support to small enterprises and tradesmen ahead of the “normalization” process that will start from June 1Erdoğan said following a cabinet meeting that 235 thousand enterprises, which he defined as the first group, will be given 5 thousand Turkish Liras (roughly $600) of grant for one time.In
As we are approaching the second half of 2021, two main themes are standing out to shape the global economy going forward: The speed of vaccinations/path to herd immunity and inflation concerns. Countries, such as the United States, U.K. and Israel will have vaccinated 75% of their populations during the summer months and will probably
In the last days of April, two important developments took place in the Turkish defense industry. First, on April 22, Akıncı drone, which is being developed by Baykar Savunma fired precision-guided munitions for the first time. The prototype aircraft, designated PT-3, achieved accurate hits by three different types of guided bombs, MAM-C, MAM-L and MAM-T,
As the pandemic hits with the third wave, the scientists exploit the year-long data to dig deeper into the pandemic and learn its dynamics. While Turkey displayed a relatively succesful performance at the early stages of the pandemic, it is one of the countries with the largest number of daily infections at the moment. Daily
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) chair Rifat Hisarcıklıoğlu posted a Twitter message on April 15 in a rare opposition to a government decision despite his support for the government.“Problems of our companies have increased due to the pandemic. First of all, Shorter Employment Allowance needs to be restored,” said the
The debate that was launched after 104 retired admirals made a statement for the stay of the 1936 Montereux Convention on sovereign rights of the straits, has faded with the release of 10 detained former military men. Had Russian President Vladimir Putin’s warning to President Tayyip Erdoğan “not to violate Montreux” any part in this?