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
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.
How to start writing this article? The Minister of Treasury and Finance said, “at a crossroads, we have chosen to grow with inflation. Otherwise, we could have taken very drastic measures to reduce inflation.” Alternatively, I would begin with this: “The dollar exchange rate, which had been 9.5 liras at the beginning of November 2021,