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Turkish economy: Timely reporting and analysis of economic developments in Turkey with all its structural problems, as one of world’s 20 biggest economies

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YetkinReport
19 September 2022, Monday / Published in Economy

Russia – Turkey reached a deal on Akkuyu Nuclear Power Plant

Turkey and Russia reached a deal over the disputed Akkuyu Nuclear Power Plant project to be constructed in Southern Turkey, Turkish media reported on Sep. 17.  “A deal has been reached regarding Akkuyu,“ Turkey’s President Tayyip Erdoğan was quoted as telling reporters following a visit to Uzbekistan for the Shanghai Summit. Erdoğan had a meeting
AkkuyuAkkuyu Nuclear Power PlantdealErdoğanIC IçtaşPutin
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Fatih Özatay
14 September 2022, Wednesday / Published in Economy

Turkey’s unemployment figures are misleading, just like inflation

On September 12, two essential data for July were announced: Labor force and balance of payments. In summary, the situation is like this: The unemployment rate is still at a high level, in particular, the broadly defined unemployment rate is referred to as the ‘underutilized labor rate.’ On the other hand, the current account deficit
economyinflationTurkeyTurkish economyunemployment
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Murat Yetkin
06 September 2022, Tuesday / Published in Economy

Why Akkuyu Nuclear Plant project report is not out yet?

When the construction of Akkuyu Nuclear Power Plant, which the Russians were building in Turkey, came to a standstill, the issue came to the table during the meeting of President Recep Tayyip Erdoğan with Russian President Vladimir Putin at their August-5 Sochi meeting, but it could not be resolved. Erdoğan met with the officials of
AkkuyuİçtaşMurat YetkinNuclear Power PlantRussiaTurkey
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YetkinReport
05 September 2022, Monday / Published in Economy

Turkey’s inflation continues to surge: 80 percent

Turkey’s inflation continues to rise as the data published by the Turkish Statistical Institute (TURKSTAT) the Consumer Price Index (CPI) has surged to 80,21 percent annually with a 1,46 percent rise in August, the highest inflation recorded in the country in 24 years.  According to TURKSTAT figures, in August 2022, CPI increased by 1.46 percent
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YetkinReport
26 August 2022, Friday / Published in Economy

Turkish Minister dismisses US warnings on Russia sanctions

Turkey’s Finance and Treasury Minister Nureddin Nebati told industrialist and business circles on Aug. 26 that “there is no point concerning” about US Deputy Secretary of the Treasury’s warning which stated that pursuing business with sanctioned Russians will also cause secondary sanctions. “There is no point the letter that is conveyed to the Turkish business
economyNebatiRussiasanctionsTurkey
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Fatih Özatay
19 August 2022, Friday / Published in Economy

CBRT’s policy rate cut: Pointless move that brings no economic gain

The Central Bank of the Republic of Turkey (CBRT) Monetary Policy Committee (PPK) convened on August 18 and lowered the policy rate by 100 basis points from 14 percent to 13 percent. This interest rate cut was a big surprise even for us who are skeptical of various ongoing incredible things in our beautiful country.
CBRTCentral BankeconomyFatih Özataygrowthinflationinterest ratepolicy rateTurkey
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YetkinReport
18 August 2022, Thursday / Published in Economy

CBRT lowered policy rate further to 13 percent amid surging inflation

The Central Bank of the Turkish Republic (CBRT) lowered the policy rate from 14 percent to 13 percent amid surging inflation and currency crisis.  The CBRT decided to lower the long been steady 14 percent policy interest rate to 13 percent after the Monetary Policy Board meeting on Aug. 18.   “The Board evaluated that the
CBRTErdoğaninflationinterest rateTurkey' economy
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YetkinReport
03 August 2022, Wednesday / Published in Economy

Türkiye’s inflation surge to 79 percent, breaking a new record

Turkish inflation keeps soaring as the latest data announced by the Turkish Statistical Institute (TÜİK) indicate a 79,6 percent annual rise in the Consumer Price Index and 144,6 percent rise in the Producer Price Index. The number is the highest inflation recorded in Türkiye in 24 years since 1998. According to TÜİK a change in
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YetkinReport
01 August 2022, Monday / Published in Economy

The first ship sales from Ukraine after grain deal

The cargo ship carrying 26 thousand tonnes of corn left Ukraine’s port of Odesa on Aug. 1 as the first shipment within the framework of the grain export deal signed under UN auspices and Türkiye’s guarantorship. Sierra Leone-flagged Razoni left the Black Sea Port at 9:48 AM local time, Ukraine’s ministry of infrastructure announced on
first shipfood crisisgrain crisisgrain dealOdesaRazonishipTürkiyeUkraineUN
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Murat Yetkin
01 August 2022, Monday / Published in Economy

Putin took a hold of Akkuyu NPP before Erdoğan’s visit

Do you know what would have happened if Russia’s Rosatom, the Akkuyu Nuclear Power Plant’s subsidiary, had not suddenly announced on July 29 that it had terminated the contract with the Turkish partner IC İçtaş for the construction of the plant? President Tayyip Erdoğan would return from Sochi, where he will meet with Russian President
AkkuyuconstructionErdoğanİçtaşNuclear Power PlantPutinRosatomRussiaSochiTSM
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  • Erdoğan’s Nakhchivan visit may change the balance in the Caucasus25 September 2023
  • The US and France failed in Armenia: Azerbaijan got what it wanted21 September 2023
  • Will Erdoğan’s “parting ways with EU” maneuver yield a result?18 September 2023
  • Erdoğan’s EU move: Türkiye can part ways16 September 2023
  • Timing of the US sanctions: Turkish minister to go to the US15 September 2023
  • Another turn from Erdoğan: A handshake with El-Sisi11 September 2023
  • A “new era” in Turkish-American Relations?8 September 2023
  • Erdoğan goes to G20 with high hopes, but things are hectic8 September 2023
  • Erdoğan’s political messages within Türkiye’s new economic programme7 September 2023
  • Erdoğan failed to persuade Putin, but his economy team convinced TurkStat5 September 2023
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