Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
Fatma Betül Sayan Kaya, the former Family Minister of the ruling Justice and Development (AKP) government, is upset. Because she finds the timing of the recent debate on the Istanbul Convention, a Council of Europe initiative to prevent violence against women, rather “noteworthy” under a “historic atmosphere where the chains of Hagia Sophia are broken
The flow of funds fuels the economy. By bringing together the borrower and the lender, financial markets direct savings into the economy. Savings finance production, production generates more income and hence more savings. What enables this circular flow is the payment to the saver. In modern financial systems, the saver receives an interest payment in
There is currently inflation of problems and crises in Turkey. The latest issue is that President Tayyip Erdoğan is calling for a total ban on social media, using a rude series of attacks on his daughter Esra Albayrak as a pretext. In this climate, alarming steps are being taken behind closed doors, from attempting to
I’m neither an economist nor an economy journalist. But as a political journalist trying to do my homework, consult and read the experts on the subject to understand what’s ahead.It’s possible to go into the details, the data; but here, I would like to share with you a summary of what I can see.There is
What US Senator Lindsey Graham said during a video conference on June 24 was perhaps not what Turkish business representatives wanted to hear. But they were clear enough not to create any empty hopes about the future of Turkish-American relations, especially in the field of economy and trade. Nail Olpak, head of Turkey’s Foreign Economic
As I sat down to write this article around noontime on June 22, Halkbank shares seemed to have started off the week with a 6.5{4a62a0b61d095f9fa64ff0aeb2e5f07472fcd403e64dbe9b2a0b309ae33c1dfd} increase. This increase had even reached 8.5{4a62a0b61d095f9fa64ff0aeb2e5f07472fcd403e64dbe9b2a0b309ae33c1dfd} in the morning, sometime after the opening of the Istanbul Stock Exchange. “It’s a big increase for a bank,” said a friend of
The Presidential Decree No. 62, which was signed by Turkish President Tayyip Erdoğan on May 16 and published in the Official Gazette on Sunday, May 17, consisted of a single sentence. The decree stipulated that, those who are appointed to the Bank Council of the Central Bank could keep their teaching posts in the universities,
The restrictions implemented to fight with Covid-19 and its virus are slowly being eased. There will be many changes we will need to adopt to in this new world waiting for us. I want to discuss here the return of foreign investment to Turkey, because I believe some of the economic policy decisions taken to
Emerging markets’ currencies depreciate rapidly during times of crisis. This is because the risk appetite declines during crisis and emerging markets experience capital outflows. Those with macroeconomic imbalances are affected the most.Because Turkey was far from achieving price stability when COVID-19 crisis hit, it is experiencing more problems on the currency front. The rate cuts