ECONOMY - Bianet

ECONOMY

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At least 167 workers killed on the job in May

At least 167 workers killed on the job in May

Over 96 percent of the 646 killed workers were non-union workers; 38 of them were refugees.

Police prevent union members from gathering in front of TurkStat building

Police prevent union members from gathering in front of TurkStat building

Members of a public employees union attempted to protest the statistical authority due to "inaccurate" inflation figures.

Turkish lira hits lowest level since December

Turkish lira hits lowest level since December

The dollar/lira exchange rate has surpassed 16.70 for the first time since December 20. As the lira continues to tank, the rise in oil prices have continued since last week.

'It hurts only the poor': Turkey's finance minister defends 'high growth-high inflation' policies

'It hurts only the poor': Turkey's finance minister defends 'high growth-high inflation' policies

Admitting that the government could have raised the interest rates to curb the inflation, Minister Nebati has unintentionally contradicted President Erdoğan's theory that higher interest rates bring higher inflation.

Turkey hikes natural gas, electricity prices for households, businesses

Turkey hikes natural gas, electricity prices for households, businesses

Gas prices have risen by 30 percent and electricity prices have have risen by 15 percent.

Turkey's growth rate at lowest level in last four quarters

Turkey's growth rate at lowest level in last four quarters

The country's GDP increased by 7.3 percent to 179.8 billion US dollars in the first quarter of 2022.

Finance minister says high inflation 'temporary'

Finance minister says high inflation 'temporary'

"The global economy is going through a difficult time. High increases in commodity prices, problems in the supply chain and rising prices in transportation caused inflation to rise sharply all over the world," Nebati has remarked.

Turkey's Central Bank keeps interest rate constant

Turkey's Central Bank keeps interest rate constant

"Increase in inflation is driven by rising energy costs, temporary effects of pricing formations that are not supported by economic fundamentals, and strong negative supply shocks," the bank has said.

Union workers dismissed by Yemeksepeti food delivery company win lawsuit for reinstatement

Union workers dismissed by Yemeksepeti food delivery company win lawsuit for reinstatement

The court has concluded that the company had fired three workers because of their union activities.

Shopkeepers: Customers just ask for the price, but don't buy anything

Shopkeepers: Customers just ask for the price, but don't buy anything

As the economic crisis deepens in Turkey, shopkeepers in the Beyoğlu district of İstanbul consider shutting down their shops.

23 May 2022 Burak Siperli

Income inequality during pandemic: What does data say about Turkey?

Income inequality during pandemic: What does data say about Turkey?

Releasing an information note ahead of the Davos summit, Oxfam said 263 million more people will crash into extreme poverty this year, at a rate of a million people every 33 hours.

'Seven doctors leave Turkey every day'

'Seven doctors leave Turkey every day'

The number of doctors leaving the country increases every year. Some 1,405 doctors left the country in 2021. This year, it is expected to be much higher.

23 May 2022 Sevcan Sinoplu

Survey: Eighty percent of people in Turkey have difficulties meeting their needs

Survey: Eighty percent of people in Turkey have difficulties meeting their needs

More than 60 percent of the public holds the government responsible for the crisis, whereas 23 percent of all voters and half of the AKP voters blame "foreign powers."

House sales to foreigners further increase in Turkey

House sales to foreigners further increase in Turkey

Citizens of Russia, Iran and Iraq bought the highest number of residential properties in April, according to TurkStat.

Turkey's current account balance posts 5.5 billion dollars of deficit in March

Turkey's current account balance posts 5.5 billion dollars of deficit in March

The country's 12-month rolling deficit reached 24.22 billion dollars in March, according to the Central Bank.

At least 129 workers killed in April

At least 129 workers killed in April

In the first four months of the year, at least 479 workers were killed on the job. Construction and transportation were the sectors with the highest number of deaths.

TurkStat: Turkey’s unemployment rate stands at 11.5 percent

TurkStat: Turkey’s unemployment rate stands at 11.5 percent

According to official figures, the narrowly defined number of unemployment became 3 million 894 thousand in March.

US dollar surpasses 15 against Turkish lira

US dollar surpasses 15 against Turkish lira

The dollar/lira exchange rate has reached the highest level since December.

Richest 20 percent in Turkey had nearly half of total income in 2021, shows TurkStat data

Richest 20 percent in Turkey had nearly half of total income in 2021, shows TurkStat data

The country's Gini coefficient stood at 0.410 in the last year while he relative poverty rate and severe material deprivation rate decreased compared to the previous year, according to TurkStat.

Starbucks workers in Turkey speak out: '18-hour shifts, no clear job definition'

Starbucks workers in Turkey speak out: '18-hour shifts, no clear job definition'

A new one has been added to the workers' resistances: the Starbucks workers. Starbucks has become a talking point after the rights violations revealed by its workers around the world.

Turkey's annual inflation rate over 156 percent, says research group

Turkey's annual inflation rate over 156 percent, says research group

The official inflation rate was less than half of what the ENAG has found.

Turkey's official inflation rate rises to 70 percent

Turkey's official inflation rate rises to 70 percent

The highest annual increase was in transportation and food, according to TurkStat.

Workers across Turkey mark May Day

Workers across Turkey mark May Day

İstanbul's Taksim Square was once again banned as police detained more than 150 people who attempted to march to the square.

Three workers killed in explosion in paint factory in İstanbul's Tuzla

Three workers killed in explosion in paint factory in İstanbul's Tuzla

Some burning fragments scattered around after the explosion and reportedly caused a fire in a nearby forest area.

IMF lowers Turkey’s growth forecast to 2.7 percent in 2022

IMF lowers Turkey’s growth forecast to 2.7 percent in 2022

The International Monetary Fund has also lowered its 2022 global economic growth forecast, considering that the war between Russia and Ukraine continues.

Turkey: 10 physicians died as a result of violence in healthcare in 20 years

Turkey: 10 physicians died as a result of violence in healthcare in 20 years

Press statements have been held by healthcare workers across Turkey on the occasion of “Day of Struggle Against Violence in Healthcare”.

House sales to foreign citizens in Turkey jump 45 percent in a year while home ownership rate drops

House sales to foreign citizens in Turkey jump 45 percent in a year while home ownership rate drops

Citizens of Iran bought the highest number of properties with 784 and were followed by citizens of Iraq 741 sales and of Russia with 547 sales in the last month, according to TurkStat.

Food sales declined in February amid high food inflation

Food sales declined in February amid high food inflation

The annual food inflation rate was 70 percent in March and over 64 percent in February, according to official statistics.

Turkey’s Central Bank keeps the policy rate constant at 14 percent

Turkey’s Central Bank keeps the policy rate constant at 14 percent

For the fourth month in a row, the Monetary Policy Committee of the Central Bank has decided to keep the policy rate (one-week repo auction rate) unchanged at 14 percent at its meeting today, on April 14, 2022.

Professional organizations to meet in İstanbul’s Maltepe Square on May Day

Professional organizations to meet in İstanbul’s Maltepe Square on May Day

Five labor and occupational organizations have released a joint statement and announced that this year’s Labor Day celebration will take place in Maltepe Square in İstanbul.

At least 347 workers killed while working in three months in Turkey

At least 347 workers killed while working in three months in Turkey

Six child workers and 18 refugee workers were killed in the first quarter of the year. Twenty-five of the killed workers were women and 322 were men.

Turkey's finance minister claims 'inflation rate getting back on track' amid record highs

Turkey's finance minister claims 'inflation rate getting back on track' amid record highs

Turkey posted a two-decade high inflation rate of 61.14 percent in March.

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