Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
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
“[…] hell itself breathes out contagion to this world” Hamlet We are withstanding hard times that resemble Shakespeare’s description above. The new coronavirus has finally reached Turkey. The time that it will take to contain the virus will primarily depend on the effectiveness of the health services, accuracy of policy decisions and the prudence of
Now its officially in Turkey, too, after 114 countries in the World. Turkish Health Minister Fahrettin Koca said in early hours of March 11 that the first Turkish patient, a male, had been disinfected during a travel to Europe, not to China. Perhaps it will be too speculative to question a link between the year
Only a mere 21.7 percent of the Turkish population is satisfied with their living standards, according to recent survey by MetroPOLL, which also highlighted a correlation between satisfaction and political choices. Responds to the survey’s key question, “Are you satisfied with your life standard?”, vastly varied among voters of different political parties, with some 41
Murat Yetkin President Tayyip Erdoğan is scheduled to discuss the Syria and Idlib crisis with Russian President Vladimir Putin on 5 March in Moscow. Before this contact, there is more news that the forces affiliated with the Bashar Assad regime were attacking Turkish troops around Idlib, and that a U.S. delegation including the U.N. Permanent
Selva Demiralp Turkish growth figures that were released on Feb. 28 indicate that the fourth quarter growth was 6 percent while the annual growth rate for 2019 as a whole was 0.9 percent. When we take a look at the components of growth, we note that the driving forces were consumption and public spending. The
On Feb. 12 President Tayyip Erdoğan was addressing his Justice and Ddevelopment Party (AKP) group in the Parliament. He was accusing Kemal Kılıçdaroğlu, the leader of the center-left opposition Republican People’s Party (CHP) of having secret links with the U.S.-resident Islamist preacher Fethullah Gülen who has been indicted to mastermind the 2016 military coup attempt.