Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies
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”;
The local elections are over. Not as the Turkish President Tayyip Erdoğan intended, but as opposition CHP leader Özgür Özel wanted. Yet Erdoğan still has an economic crisis ahead of him. The way out of this crisis is the Medium Term Program (MTP) he entrusted to the Minister of Treasury and Finance Mehmet Şimşek. The
The World Bank has been on the agenda in Türkiye for two reasons nowadays. First, because it decided to provide Türkiye with US$ 18 billion in project financing for the period 2024-2028, and second, because of the news that half of this financing will be made available on the condition that Syrian refugees and LGBTQ+
The Turkish Central Bank’s (CBRT) Monetary Policy Committee (PPK) increased the policy rate by 500 base points from 45 percent to 50 percent at its March 21 meeting. In the statement made by the PPK, which convened under the chairmanship of Central Bank Governor Fatih Karahan, it was stated that it was decided to increase