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 President Recep Tayyip Erdoğan has presented the awaited Medium Term Economic Programme (MTP) on September 6 in an event attended by the economy cadres of the ruling Justice and Development Party (AKP). Emphasised as Türkiye’s roadmap for 2024-2026 period, the MTP promises to increase the GDP to 1.3 trillion US dollars and per capita
The Monetary Policy Committee of the Central Bank of Turkey (CBRT) raised the policy rate from 17.5 percent to 25 percent on August 24. “The Committee decided to continue the monetary tightening process to establish the disinflation course as soon as possible, to anchor inflation expectations, and to control the deterioration in pricing behavior,” the
Türkiye may print 500 and 1000 Turkish Lira banknotes amid increasing inflation and currency crisis. This time last year, former Minister of Treasury and Finance, Nurettin Nebati was saying “there is no need for such measure,” when asked if there will be any banknotes with larger denomination. His ministry was obeying the instructions of President
On August 3, Turkish Statistical Institute (TurkStat) announced a consumer price index increase of 9.5 percent for July, which is a one-month increase. Unfortunately, the annual consumer inflation is 47.8 percent. Moreover, regarding what has been happening in Türkiye since 2021, there is nothing strange about the 9.5 percent monthly uprise in the consumer price
The locals of a small village in Turkey’s Western province of Muğla, İkizköy have been in struggle with police and gendermerie for nine days to prevent their forest, the Akbelen woodland, from being cut for a thermal power plant. The conflict began when YK Energy, a subsidiary of Limak Holding and IC Holding, began to
After signing a series of tax hikes over the weekend, President Tayyip Erdoğan is traveling to the United Arab Emirates this week in search of investment and debt. On July 17-18, he will attend the G20 meetings in Gandhinagar, India, where he will be joined by Treasury and Finance Minister Mehmet Şimşek and Central Bank
Turkish President Recep Tayyip Erdoğan has signed a series of presidential decrees that raise the value-added tax (VAT) rate from 18 percent to 20 percent and increase public fees by 50 percent. The decrees, which took effect immediately on July 7 also raise the revenues from betting to 10-15 percent and the Banking and Insurance
The Turkish Statistical Institute (TurkStat) on July 5 announced a further deceleration in the skyrocketing inflation hike in the country to 38 percent as the Consumer Price Index (CPI) increased 3 percent in June. TurkStat announced on July 5 that the CPI rate increased by 3,92 percent in June and that the annual CPI was
After 27 months of stagnant rates, the Monetary Policy Committee of the Turkish Central Bank (CBRT) finally announced on June 22 that the policy rate would be increased to 15 percent, answering the rising expectations and anxious waiting. Is the “Nass” era over, one asks as the word was used by Turkish President Recep Tayyip
The Central Bank of the Republic of Turkey (CBRT) raised the policy rate to 15 percent on June 22 after almost two years of low-interest rate policies The the Monetary Policy Committee (MPC) which held its first meeting under the chairmanship of Central Bank Governor Hafize Gaye Erkan, switched to a monetary tightening policy by