Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
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,”
At the recent NATO leaders summit in Washington, Russia, China, Iran, and North Korea were described as the “hostile camp” to the Alliance in harsher terms than ever before, sharpening fault lines. The decision to hold the 2026 NATO Leaders Summit in Türkiye was perhaps the most important decision for us. The joint statement also
The Central Bank of Republic of Türkiye (CBRT) which sold foreign currency from its reserves to prevent the US dollar from appreciating further against the Turkish lira (TL) before the March 31 elections, is now buying US dollars from the market to prevent the TL from appreciating too much against the dollar. According to Central
In a bid to curb surging inflation and restore fiscal discipline, Türkish Finance Ministry unveiled an extensive savings plan aimed at reining in public spending. Vice President Cevdet Yılmaz and Treasury and Finance Minister Mehmet Şimşek announced a new “Public Savings Plan” on May 13 at a joint briefing. The savings plan comes as Türkiye
Turkish Energy Minister Alparslan Bayraktar told the Financial Times on April 28 that negotiations were continuing with the US energy giant Exxon Mobil for 2.5 million tons of liquefied natural gas (LNG) worth 1.1 billion dollars. The Minister was talking about Türkiye’s need to diversify its resources to avoid being dependent on “a single supplier”;