economy

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Erdoğan: Do Not Resort to Buying Foreign Currency, I Would Implement Plans B-C

Erdoğan: Do Not Resort to Buying Foreign Currency, I Would Implement Plans B-C

Addressing the industrialists, President Erdoğan has said, “Do not rush to the banks to buy foreign currency. Otherwise, I would have to implement the plans B and C.”

Trump: Our Relations with Turkey are not Good

Trump: Our Relations with Turkey are not Good

US President Trump has tweeted, “I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar”.

Exchange Rate Statement by AKP: Fluctuations Will End Sooner or Later

Exchange Rate Statement by AKP: Fluctuations Will End Sooner or Later

Vice Chair of the AKP Cevdet Yılmaz has referred to the recent exchange rate movements as “fluctuations that cannot be explained on economic grounds” and stated that these fluctuations will end sooner or later.

Minister of Finance Albayrak: We Will Not Fight Markets

Minister of Finance Albayrak: We Will Not Fight Markets

Minister of Treasury and Finance Albayrak has said that Turkey “will advance by win-win relations”.

Moody’s Lowers Turkey’s Growth Forecast

Moody’s Lowers Turkey’s Growth Forecast

International credit rating agency Moody’s has lowered Turkey’s growth forecast for 2018 from 4 percent to 2.5 percent on the grounds of high inflation rates, increasing oil prices and loss of value in the Turkish Lira.

Bozdağ: They Cannot Change Election Results by Playing With Dollar

Bozdağ: They Cannot Change Election Results by Playing With Dollar

Government Spokesperson Bekir Bozdağ has said, “If there are people who think that they can change the results of this election by playing with the dollar and inflicting damage to the nation and its pocket, they are mistaken.”

Akdağ: Some Circles Try to Prevent Rise of Erdoğan

Akdağ: Some Circles Try to Prevent Rise of Erdoğan

Concerning the hike in exchange rate, Deputy PM Akdağ has said, “Some circles are trying to prevent the rise of Erdoğan and Ak Party”.

Borsa İstanbul Chair: We’ve Sold Foreign Currency But I Don’t Know How Much

Borsa İstanbul Chair: We’ve Sold Foreign Currency But I Don’t Know How Much

Borsa İstanbul Chair Karadağ has said that they have converted all of its cash assets into Turkish Lira to give confidence to the markets but he doesn’t know the amount.

Exchange Rate of US Dollar Exceeds 4.90 Turkish Lira

Exchange Rate of US Dollar Exceeds 4.90 Turkish Lira

After the exchange rate of US Dollar to Turkish Lira has exceeded 4.90 TRY, İstanbul Stock Exchange has announced that except for its short-term needs, it has changed all of its foreign exchange assets into Turkish Lira.

Erdoğan: ‘They Cannot Discipline Us Through Foreign Exchange’

Erdoğan: ‘They Cannot Discipline Us Through Foreign Exchange’

President Erdoğan has addressed the recent problems in foreign exchange rates and said that the economic growth is on a good track. He has also added that since their achievements make “some people” jealous, they are advancing upon them through economy.

Erdoğan: Some Plots Have Been Staged Over Economy

Erdoğan: Some Plots Have Been Staged Over Economy

President Erdoğan has said, “Some plots have been staged over economy. We have wrecked these plots and will continue to do so. I call on those who attack our economy, you will not succeed”.

November 2017 Unemployment Rate at 10.3 Percent

November 2017 Unemployment Rate at 10.3 Percent

Turkey’s November 2017 unemployment rate was recorded at 10.3 percent. Overall, unemployment figures had peaked in January 2017 with 13% but have remained below 11% for the past 8 months.

16 February 2018

Erdoğan: Justifying Interest Rate Hike is a Vain Attempt

Erdoğan: Justifying Interest Rate Hike is a Vain Attempt

Speaking about the high exchange rate, President Erdoğan has said, “I see the attempts to justify the interest rate hike by means of manipulations in economy as a vain attempt”.

12 December 2017

Erdoğan: Finance Sector to Have to Face Us Unless They Funnel Credit

Erdoğan: Finance Sector to Have to Face Us Unless They Funnel Credit

President Erdoğan has said the finance sector has to funnel credit to investors, “If the credits given to people with low interest, investors’ competitive power will increase”.

17 January 2017

Erdoğan: Our People Must Change More Foreign Currency

Erdoğan: Our People Must Change More Foreign Currency

Noting that he is pleased with changes from foreign currencies to TL, President Erdoğan has said it is not enough and more foreign currency must be changed.

9 December 2016

Erdoğan Calls on People to Change Their Foreign Currencies to Turkish Lira or Gold

Erdoğan Calls on People to Change Their Foreign Currencies to Turkish Lira or Gold

Asking people to change their foreign currencies to Turkish Lira or gold, President Erdoğan has said there is no other way than decreasing interest rates.

2 December 2016

Economy’s Future for 3 Years Announced

Economy’s Future for 3 Years Announced

Vice Prime Minister, Mehmet Şimşek has announced Medium-Term Program in economy; foresaw 4.5% in growth, 7.5% in inflation in 2016.

11 January 2016

Şimşek: Rough Period in Economy Approaching

Şimşek: Rough Period in Economy Approaching

Vice Prime Minister in Charge of Economy, Şimşek stating he estimates U.S. Central Bank, FED, will hike interest rate said a rough period in economy is approaching.

8 December 2015

Unemployment Dropping, but Trade Unionists Say It Is Seasonal

Economic Crisis and Labour

Unemployment Dropping, but Trade Unionists Say It Is Seasonal

Official data show a drop in unemployment in the last two months. Trade union confederation DİSK say real unemployment stands at 5.4 million.

Industrial Production Gone Down by a Quarter

According to the the Turkish Statistical Institute TÜİK, there has been a 23.7 percent decrease in industrial production compared to last year. The production of cars and car-related products has gone down by 59 percent.

9 April 2009 Erhan Üstündağ

"Cross-Border Operations Damage Turkey's Economy"

"Cross-Border Operations Damage Turkey's Economy"

Acar of the Erbil Businesspeople's Association says: "Violence is affecting economic relations, this is to Turkey's detriment. There are people on both sides feeding from violence."

3 January 2008 Erhan Üstündağ

Ten Thousand Dollars Per Capita? Palaver...

Ten Thousand Dollars Per Capita? Palaver...

The AKP's claim of a yearly growth rate of 16 percent is mostly deception which has been achieved by speculation.

6 September 2007 Mustafa Sönmez

"Striking is a Democratic Right"

As many trade unions are preparing to strike, the mainstream media is painting them as the villains out to destroy the economy. Labour representatives have argued the contrary.

27 August 2007 Nayat Karaköse

US Crisis: Capitalists Win, Workers Lose

US Crisis: Capitalists Win, Workers Lose

Turkey has been one of the countries worst affected by the current financial crisis in the USA. Economists Ercan and Tören predict the success of capitalists and a weakening of labour movements.

23 August 2007 Ayça Örer

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