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 İmamoğlu Crisis continues. Not only on the Turkish domestic political front, but also in terms of its effects on the economy. Foreign investors, preoccupied with the Russia-Ukraine crisis, noticed the Türkiye bleep on their radar screens by the detention of İstanbul Metropolitan Mayor Ekrem İmamoğlu on March 19. Following his arrest by the court,
Despite dozens of agreements and protocols signed over the years between Türkiye and Turkmenistan, we have yet to see the gas molecules flow. However, according to the announcement by Energy and Natural Resources Minister Alparslan Bayraktar, if no setbacks occur, natural gas from Turkmenistan will begin flowing to Türkiye starting March 1st through a new
Milking a cow constantly makes it hard to obtain sufficient and quality milk. Eventually, the cow becomes unwell and can no longer produce milk. The same goes for taxes. Extracting more taxes than citizens, businesses, and institutions can bear may lead to economic instability and injustice. Excessive tax burdens become unsustainable, especially for low-income groups
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