economy

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It's much harder to build trust in economy after change of Central Bank head, says economist

It's much harder to build trust in economy after change of Central Bank head, says economist

The Turkish lira recorded an 11-percent depreciation against the US dollar after Erdoğan replaced the Central Bank governor with a pro-government columnist.

22 March 2021 Hikmet Adal

Erdoğan: We carry out necessary reforms in economy

Erdoğan: We carry out necessary reforms in economy

“We are mobilizing our country’s potential with an approach based on investment, production, growth, employment and export. We are also laying the groundwork for a historic transformation outside our borders,” says President and AKP Chair Erdoğan.

19 January 2021

Erdoğan: 2021 will be the year of democratic reforms for Turkey

Erdoğan: 2021 will be the year of democratic reforms for Turkey

President and ruling AKP Chair Erdoğan has said, “We do not have any particular issue or insoluble problem with Europe, the US, Russia, China or any other country in our region. We are ready to meet, talk, come to an agreement and cooperate.”

28 December 2020

State is sinking into debt, warns HDP

State is sinking into debt, warns HDP

Batman MP Necdet İpekyüz has shared the HDP’s “Life Economy Without Debt” report with the public. “We are faced with a catastrophic picture where 739 thousand 756 people cannot pay their credit debt,” İpekyüz has warned.

11 December 2020

Major problems of the city according to İstanbulites: Earthquake, economy, transport

İMM STATISTICAL OFFICE

Major problems of the city according to İstanbulites: Earthquake, economy, transport

The İstanbul Statistical Office has published its second “İstanbul Barometer.” The results of the survey show that a possible earthquake, economic problems and transportation are the major problems of the city according to citizens.

7 December 2020

'I protested when I read the indictments against Demirtaş, Kavala'

PRESIDENTIAL HIGH ADVISORY BOARD MEMBER

'I protested when I read the indictments against Demirtaş, Kavala'

Bülent Arınç, a member of the Presidential High Advisory Board, says that he protested when he read the indictments against Selahattin Demirtaş and Osman Kavala: “I thought that they could not be even a child’s work, I even felt like wearing my tog.”

20 November 2020

Erdoğan: We will grow our economy by strengthening the law

Erdoğan: We will grow our economy by strengthening the law

“By strengthening democracy, rights and freedoms, and the law, we will uplift investments, grow our economy and increase employment,” said President and ruling AKP Chair Erdoğan in a speech addressing the Turkish Exporters' Assembly (TİM).

20 November 2020

Finance Minister says ‘Turkey’s economy is at a turning point’

Finance Minister says ‘Turkey’s economy is at a turning point’

Meeting with representatives of global firms, Minister of Finance Albayrak said, “Turkey offers investors unique opportunities.” When he was delivering this speech, the exchange rate of US dollar was 8.17 lira and that of Euro was 9.67 lira.

28 October 2020

Gold price per ounce is over 2,000 dollars, again

Gold price per ounce is over 2,000 dollars, again

The gold price per ounce has exceeded 2,000 US dollars again. The price of gram gold has seen 477 şira while the exchange rates of US dollar and Euro are still record high.

Turkey’s Finance Minister Albayrak: What matters is not the level of exchange rate

Turkey’s Finance Minister Albayrak: What matters is not the level of exchange rate

Hosting Finance Minister Albayrak on CNN Türk, Ahmet Hakan said, “I get panicked when the exchange rate of US dollar rises. Should we be concerned,” to which Albayrak responded: “Do you get your wage in dollars?”

Polemic between Erdoğan, Babacan on 'giving a loan to IMF'

Polemic between Erdoğan, Babacan on 'giving a loan to IMF'

The President and the former economy minister, who found a new party after resigning from the AKP, got in an exchange following Turkish lira's slide against the US dollar.

‘Turkey's economic problem has become chronic, people don’t believe it will get better’

SOCIO-ECONOMIC FIELD RESEARCH CENTER

‘Turkey's economic problem has become chronic, people don’t believe it will get better’

While 47.1 percent of those who regard economy as the biggest problem think that it can be solved by creating employment, 85.9 percent of those who see the Presidential System as the chief problem say it will be solved in case of a system change.

22 June 2020 Ruken Tuncel

Greater Economic Hardships Await Turkey, Say Economists

Greater Economic Hardships Await Turkey, Say Economists

Discussing economy amid pandemic, economists say, “A swift reopening of the economy means a swift abandonment of measures. The government of Turkey has turned its face towards the capital while turning its back on the people.”

People Commenting on Economic Crisis at Court: It Has Been a Tragicomic Trial

People Commenting on Economic Crisis at Court: It Has Been a Tragicomic Trial

The lawsuit filed against 38 people including two reporters from Bloomberg and four other journalists for “opposing the Law on Capital Market” has started. The requests for immediate acquittal have been rejected.

20 September 2019 Hikmet Adal

Turkey's Economy Shrinks by 1.5 Percent in Second Quarter

Turkey's Economy Shrinks by 1.5 Percent in Second Quarter

The total value added increased by 3.4 percent in the agricultural sector, decreased by 2.7 percent in the industry sector and 12.7 percent in the construction sector and 0.3 percent in the services sector, the TurkStat has announced.

2 September 2019

CHP Chair Kılıçdaroğlu: One-Man Rule Shrinks the Economy

CHP Chair Kılıçdaroğlu: One-Man Rule Shrinks the Economy

Speaking at the workshop on local administrations, main opposition CHP Chair Kılıçdaroğlu has indicated that presidential system has caused economic downturn: “Since the one-man rule was adopted, our growth rate has fallen to 3 per thousand.”

‘Every Child in Turkey Born with 5,513 Dollars of Debt’

“CRISIS OF TURKEY” REPORT BY CHP

‘Every Child in Turkey Born with 5,513 Dollars of Debt’

According to the “Crisis of Turkey” report prepared by the CHP, since 2002, the external debt of Turkey has more than tripled to 450 billion dollars. While a baby was born with 1,963 dollars of debt in 2002, this figure has increased to 5,513 dollars in 2018.

Pompeo: Trump Might Be Referring to Imposition of Sanctions

Pompeo: Trump Might Be Referring to Imposition of Sanctions

Commenting on the statements of President Trump, who said, “We will devastate Turkey economically if they hit Kurds,” US Secretary of State Pompeo has stated, “We apply sanctions in many places. I assume he's speaking about those kinds of things.”

14 January 2019

Annual Inflation in 2018: 20.30 Percent

Annual Inflation in 2018: 20.30 Percent

The Turkish Statistical Institute has announced the inflation figures for December and 2018. While the consumer inflation has fallen by 0.40 percent in December, the annual consumer inflation has become 20.30 percent in 2018.

Inflation on Monthly Basis Falls for First Time Since 2017: 1.44 Percent

Inflation on Monthly Basis Falls for First Time Since 2017: 1.44 Percent

The Turkish Statistical Institute has announced the inflation figures for November. While the consumer inflation has fallen by 1.44 percent in comparison with October 2018, it has increased by 21.62 percent in comparison with November 2017.

3 December 2018

Turkey as the Country with Highest Inflation Rate in Europe

Turkey as the Country with Highest Inflation Rate in Europe

Turkish Statistical Institute has announced the annual consumer inflation in October as 25.24 percent. This figure shows that Turkey is the country with the highest inflation rate in Europe. What about the inflation rates of other European countries?

9 November 2018 Hikmet Adal

'Turkey's 2018 Budget Closes with TL 72.1 Billion Deficit'

'Turkey's 2018 Budget Closes with TL 72.1 Billion Deficit'

Minister of Treasury and Finance Berat Albayrak has stated, “We anticipate that the budget deficit of Turkey in 2018 may amount to 72.1 billion Turkish Lira", which approximately amounts to USD 12.56 billion.

24 October 2018

Erdoğan: No New Projects in 2019 Unless Unavoidable

Erdoğan: No New Projects in 2019 Unless Unavoidable

In his circular letter concerning the “Preparations for the Investment Programme in the Period of 2019-2021”, which has been published on the Official Gazette, President Erdoğan has introduced the economic priorities and savings plans.

11 October 2018

Inflation Hits 16-Year High in September

Inflation Hits 16-Year High in September

Consumer inflation in September has increased by 6.30 percent in comparison with the previous month and by 24.52 percent in comparison with the same month last year. As for the annual producer inflation, it has increased by 46.15 percent, hitting a 16-year high.

Moody’s: There is Risk That Government Limits Access to Foreign Currency

Moody’s: There is Risk That Government Limits Access to Foreign Currency

Moody’s has lowered Turkey’s country ceiling for long-term foreign currency bank deposits from B1 to B2, stating that there is a “risk that the government places constraints on deposit holders’ access to their foreign currency deposits.”

25 September 2018

Inflation Rate in August Remains Below Expectations

Inflation Rate in August Remains Below Expectations

The Turkish Statistical Institute has announced the inflation figures for August 2018. While the inflation in August has been measured as 2.30 percent, the inflation on annual basis has increased to 17.90 percent.

3 September 2018

Erdoğan: We’ll Not Get Permission for S-400 Deal with Russia

Erdoğan: We’ll Not Get Permission for S-400 Deal with Russia

Speaking in Kyrgyzstan, President Erdoğan concerning S-400 deal has said, “You don’t have right to block us” and stated that hegemony of US dollar must be ended.

3 September 2018

Albayrak Meets with Foreign Investors: We Have No Plan of IMF

Albayrak Meets with Foreign Investors: We Have No Plan of IMF

The Minister of Treasury and Finance Berat Albayrak has met with almost four thousand foreign investors via teleconference. Albayrak has said, “We will take every possible step to increase the confidence in the economy of Turkey.”

Yıldırım: US Should Take First Step for Solution

Yıldırım: US Should Take First Step for Solution

Parliamentary Speaker Yıldırım has stated that the US should respect law, and said, “[The US] should seek solution by respecting our laws instead of imposing its demands through sanctions and president’s irresponsible tweets”.

Parliamentary Inquiry by HDP Regarding ‘Threatening Economic Security’ Offence

Parliamentary Inquiry by HDP Regarding ‘Threatening Economic Security’ Offence

The HDP Kocaeli MP Ömer Faruk Gergerlioğlu has submitted a parliamentary inquiry regarding the investigations launched by the İstanbul and Ankara Chief Public Prosecutor’s Offices on charge of “threatening the economic security.”

Erdoğan: There are Economic Terror Figures on Social Media

Erdoğan: There are Economic Terror Figures on Social Media

Calling out to US President Donald Trump by saying, “You can be a President all you want,” President Erdoğan has stated that the movements in the foreign exchange do not have an economic basis. Erdoğan has also added, “There are several economic terror figures on social media.”

Çavuşoğlu: Turkey is One of the Best Places for Investment

Çavuşoğlu: Turkey is One of the Best Places for Investment

The Minister of Foreign Affairs Mevlüt Çavuşoğlu has stated, “Turkey has never deviated from its goal of full membership of the EU” and added, “Turkey is one of the best and most trustworthy places to make an investment.”

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