Two days before the critical run-off for the presidential elections in Türkiye, things got quite odd in the country. Two candidates of the second round of the elections, Republican People’s Party (CHP) leader and six party opposition alliance’s candidate Kemal Kılıçdaroğlu and President Recep Tayyip Erdoğan were on screens one day apart on May 24
Before the second round of presidential elections on May 28, President Tayyip Erdoğan told CNN International that if elected, he would continue to cut interest rates following his unorthodox belief that “high interest rates cause high inflation” and that “he had already started to see positive results.” We all wish for a better tomorrow and
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.
In October, the foreign trade deficit of the last twelve months was $103 billion. The September 2011-February 2012 period witnessed a slightly higher deficit; the highest was $106.7 billion. In short, the record is about to come. However, there is a difference, as there was no “New Economy Model” then. Moreover, there was no argument,
The dollar exchange rate has been relatively calm for about four months (Figure 1). It comes to mind to question the reasons for the calmness and how long it will last. Calmness is, of course, a relative concept. Since the beginning of August, the currency basket (basket exchange rate), which consists of half a dollar
The 8th sanctions package against Russia that will most likely be accepted at the European Union Leader’s Prague summit on October 6 includes certain provisions that would profoundly affect the Turkish economy. New measures stipulate a new listing of individuals and further restrictions on trade such as an import ban on Russian “steel products, wood
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
Türkiye’s inflation hits a 24-year high of 78 percent, independent researchers argue it is higher, the Minister says the increase is a result of global commodity prices, Foreign Minister reiterates Erdoğan’s warning to Nordic countries in their NATO bid, Russian-flagged vessel carrying grain in Türkiye’s Black Sea port… Here is what you need to know
Turkey’s opposition block formed by the six opposition parties vowed to ensure independent monetary management in the event that they came to power in a new report announced on June 13. “The Institutional Reforms Commission” established by the six-party opposition block finished its first report which focused on the block’s reform propositions to be implemented
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