The earthquake caused great suffering. Massive loss of life, numerous injuries, destroyed homes, broken families… It is hard to comprehend that pain unless you have experienced. There was also significant economic destruction due to the earthquake. Many homes and businesses collapsed, and many more became unusable. Schools, hospitals, and other public buildings should be
Türkiye’s opposition alliance that is called Nation Alliance (The Table of Six) announced the Common Policies’ Consensus Text on Monday, January 30, 2023. The 244-page text composed on 9 different sections detailing the opposition alliance’s future program if they would win the upcoming election. This article will focus on the Economy, Finance, and Employment section.
How will Turkey’s economy perform in 2023? It is a relatively complex question since we have been in an inexplicable period regarding economic conditions, and a critical election is to approach. Hence, it would be more appropriate to try to answer this question by dividing 2023 into two periods: before and after the election. First,
Türkiye’s main opposition Republican People’s Party (CHP) leader Kemal Kılıçdaroğlu promised to bring a technocratic supra-political committee to advise the country’s policy-making efforts, as the party introduced its economy programme in a grand event dubbed “the call for the second century.” “Türkiye needs a radical change. It needs a system that works for everyone. Such
Turkish President Tayyip Erdoğan began addressing Kemal Kılıçdaroğlu, the leader of the main opposition Republican People’s Party (CHP), as “Mr. Kemal” (Bay Kemal). By using this condescending tone, he was aiming to evoke an alienating effect on his constituency. The term “Mr.” or “Bay” was also a reference to honorifics introduced during the founding years
The Central Bank of the Turkish Republic’s (CBRT) “fight against inflation cannot be considered very successful,” the CBRT governor Şahap Kavcıoğlu said on October 27, as the bank raised its inflation forecast by 4,8 percentage points. “We cannot consider (fight against inflation) very successful,” Kavcıoğlu said upon a question from a reporter on October 27,
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
Is the ruling Justice and Development Party (AKP) preparing for an early election? Had it not been for Hürriyet newspaper’s pro-government columnist Abdülkadir Selvi’s insight from AKP rooms, I would have thought that the rumor was circulated to spark speculation move in the stock market. However, after notorious mafia figure Sedat Peker publicized yet another
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
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.