Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
Ankara was happy with a good meeting with Libyan Prime Minister Abdul Hamid Mohammed Dbeibeh but the bad news came from Russia. The first thing that Libya would remind Turkish citizens nowadays might be President Tayyip Erdoğan’s 150,000 doses of vaccine to the North African country at a time when the daily new Covid-19 cases
The Turkish economy management is looking for ways to end big losses of the lira against the USD as the Istanbul stock exchange management halted operations for two times. The losses came after Presidenü Recep Tayyip Erdoğan replaced Central Bank governor Naci Ağbal with Şahap Kavcıoğlu in theearly hours of March 20. With the opening
The rumors that Turkey would withdraw from the Istanbul Convention against violence against women intensified late on March 19. Journalists worked until midnight but could get no answers to their questions, a sign that something bad was going on.The presidential decree on the Offical Gazette after midnight confirmed the rumors.But the leaked information did not
President Recep Tayyip Erdoğan has dismissed Central Bank Gov. Naci Ağbal, only four months after appointing him as part of a new economy administration that replaced the team of former Treasury and Finance Minister Berat Albayrak, the president’s son-in-law. Şahap Kavcıoğlu, a former ruling Justice and Development Party (AKP) lawmaker and former deputy chair of
Foreign Minister Mevlüt Çavuşoğlu gave the first signal that Turkey-Egypt dialogue resumed, a major policy change, when he said March 3 that talks began on the Mediterranean maritime jurisdiction zones. Two days earlier, Egypt had granted licenses for oil and natural gas search companies in line with the maritime jurisdiction map that Turkey presented to
The Economic Reform Package was announced by President Recep Tayyip Erdoğan on March 12. As an economist who specializes in monetary policy, I found the following statement rather struggling: “We will put the frequently mentioned price stability aside.” This remark can have opposite interpretations: 1) Frequent emphasis on price stability increased our awareness on the
The economic reform package announced by President Tayyip Erdoğan on March 12 compares to the Human Rights Action Plan he announced on March 2 in terms of failing to be convincing about introducing a structural change. If Erdoğan had named the plan he announced on March 2 an Administrative Reform in the Judiciary, it would
President Recep Tayyip Erdoğan promised tax exemption for some 850,000 along with cutting public spending in the Economic Reform Package he announced on March 12, bringing Vice President Fuat Oktay to the top seat of the to-be-founded Economic Coordination Council. “Along with macroeconomic policies, a chain of structural measures and transformation are conditional to continue
Turkey registered a 1.8 percent growth rate for 2020 and became one of the few countries that achieved positive growth during the pandemic. The growth performance was primarily a consequence of the excessive credit growth and low interest rate policies adopted during 2020. Yet, the consequent pressures on the TL and the sale of central
It would be appropriate to start this article with a question: “How much does biodiversity contribute to the economy?” Ecologists and economists have sought answers to such questions for decades. Governments of the developing countries, in particular, put forward their answers from different perspectives. Are they successful? My answer is no; because it was environmental