Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
We all know that Covid-19 is a humanitarian problem, and containing the pandemic as soon as possible is an urgent obligation to save human lives.From an economic perspective, the total cost of containing the pandemic immediately is less than that of isolation policies that are put into delayed practice.The economics profession unanimously agrees that the
The number of COVID-19-related causalities has reached to 574 and number of infected people to 27,069 as of April 5, according to the Turkish Health Ministry.Turkish main opposition leader Kemal Kılıçdaroğlu of the center-left Republican People’s Party (CHP) has been criticizing President Tayyip Erdogan’s Justice and Development Party (AKP) government because of not taking necessary
Turkish opposition Good Party (GP) leader Meral Akşener has criticized the donation campaign launched by President Erdoğan over his donation campaign that gathered some 550 million liras, roughly $83 million dollars in three days against the Covid-19 outbreak, questioning whether the state could not possess such an amount of money to spend on its citizens.
The outbreak is, without a doubt, a medical issue. In its early stages, we can win the fight against it by taking preventive and protective measures, so it doesn’t spread. But both scientific data and previous examples in history show that COVID-19 is not only a medical issue. It shakes every aspect of life, be
The number of workers in Turkey who would be directly affected by staying at home amid Covid-19 measures could near 6 million, columnist Bahadır Özgür wrote at Duvar English. “If their families are included, then it is not an exaggeration to estimate that the epidemic, at the first glance, will hit more than 15 million
Coordination among monetary and fiscal policies is needed much more than ever at this time. While both of these policies aim to provide economic stability, their tools and areas of operation are different. It is essential for these policies to complement each other and support the economy without generating additional risks and vulnerabilities. Monetary Policy
Almost all countries have announced economic stimulus packages in response to the expected slowdown, or more likely a recession, in their economies. Turkey is no exception. President Tayyip Erdoğan announced the package aimed to alleviate the economic consequences of the pandemic in Turkey on March 18. As expected, the package includes tax breaks for firms
Turkish President Recep Tayyip Erdoğan has called on citizens to stay at home unless it is urgent not to do so, also revealing a 100-billion-lira (roughly $15 billion) support package for businesses “which do not curb employment.” Following an emergency meeting on measures to be taken against the Coronavirus outbreak, Erdoğan said March 18 in Ankara
The Federal Reserve has had another emergency meeting, the second within the last fortnight. On March 15, they cut the policy rate by 100 basis points and brought it to the zero-lower bound. In addition, they re-started large scale asset purchases which had ended in October 2014. They lowered the reserve requirements to support loan
Turkish tourism businesses, an industry that generated around $34.5 billion in 2019, have already lost hopes for an even better year due to the coronavirus outbreak, with the clerks at tour operators’ offices struggling to respond to calls for cancelations, not new bookings. Tourism Minister Mehmet Nuri Ersoy said at a joint meeting with his