Turkish Industry and Business Association (TÜSİAD) Chairman Orhan Turan and High Advisory Council Chairman Ömer Aras were detained by police just hours after President Tayyip Erdoğan’s “Know your place” rebuke during the February 19 AKP parliamentary group meeting. The Istanbul Chief Public Prosecutor’s Office had already initiated an investigation against Aras for his speech at
Milking a cow constantly makes it hard to obtain sufficient and quality milk. Eventually, the cow becomes unwell and can no longer produce milk. The same goes for taxes. Extracting more taxes than citizens, businesses, and institutions can bear may lead to economic instability and injustice. Excessive tax burdens become unsustainable, especially for low-income groups
Finance Minister Mehmet Şimşek stated that the additional fees to be collected through new proposal submitted to the parliament will be used for the construction of defence systems like Steel Dome, rather than reducing the budget deficit. The ruling Justice and Development Party (AKP) has introduced a controversial bill to the parliament that would require
I was at the National Day reception at the Chinese Embassy in Ankara when Foreign Ministry Spokesperson Öncü Keçeli made a statement “it is an internal U.S. matter” regarding the federal corruption charges against New York Mayor Eric Adams in which Türkiye is at the center. Unlike the Saudi Arabian reception, the entire Turkish military
Turkish Vice President Cevdet Yılmaz unveiled the Medium Term Program (MTP), outlining Ankara’s economic roadmap for the next three years. The MTP marks a crucial juncture for both the country’s economic recovery efforts and the political future of both President Tayyip Erdoğan and Erdoğan’s Justice and Development Party (AKP) government. While numerous questions arise, the
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
I have no intention of targeting Mehmet Şimşek, the Minister of Treasury and Finance. Ruling Justice and Development Party (AKP) members are already doing that enough. Despite the defeat in the March 31 elections, they act as if President Tayyip Erdoğan wasn’t the sole decision-maker and they had done everything right, still claiming, “If we
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
Apart from the impulse to get out of the economic crisis, what other force, do you think, could have made President Tayyip Erdoğan visit Egyptian President Abdel Fattah al-Sisi, with whom he had frozen relations calling him a “coup plotter”, and send him messages of friendship and cooperation? And don’t say for the sake of
The Central Bank of the Republic of Turkey (CBRT) Governor Fatih Karahan, facing the cameras for the first time following the contentious dismissal of the previous Governor Hafize Gaye Erkan from office, announced the first inflation report for the year 2024. Speaking at a press conference on February 8, Karahan stated that the inflation forecasts