All News on Economics in Turkey

Oil prices drive annual inflation back to double digits

Turkey's annual inflation rate stood at 10.68 percent in August, revisiting double digits, with price hikes in cars, oil and LPG becoming the driving force, according to figures by the Turkish Statistical Institute (TÜİK) released on Sept. 5. 

Turkey's current account deficit shrinks in March

Turkey's current account deficit shrunk to $3.1 billion in March, a $666 million fall compared to the same month last year, according to a Turkish Central Bank report released May 11.        

The 12-month rolling deficit dropped to $33.02 billion in the third month of the year, down from $33.75 billion in February, according to the report.        

Foreign investment inflow to Turkey reaches $457 million in February

Turkey received $457 million in foreign direct investment in February, the Economy Ministry stated in a report on April 24.        

Foreign investment in Turkey reached $1.059 billion in the first two months of this year, down by 34.3 percent compared with the same period last year.        

Turkish economy remains resilient: Central Bank chief

Recent developments indicate the resilience of the Turkish economy and supportive fiscal and macro-prudential policies have mitigated the downside risks on economic activity, Central Bank Governor Murat Çetinkaya said April 20.

Turkey 'to give Central Bank first option on buying domestic gold'

Turkey is taking steps to give its Central Bank the right of first refusal on domestically produced gold, two sources said, allowing it to boost reserves of the precious metal without depleting foreign currency holdings.

Turkey ranks 71st in UN Human Development Index

Turkey has scored 71 out of 188 countries on the Human Development Index (HDI) for 2016, according to the United Nations Development Programme's (UNDP) latest Human Development Report. 

The report said that Turkey's HDI value rose one place compared to 2015, putting it 71st with a score of 0.767, up from the previous year's score of 0.761.

Turkey likely to grow over 4 percent in 2017: Deputy PM

Deputy Prime Minister Nurettin Canikli has said he expects Turkey to grow more than 4 percent this year, after 3 percent last year, while the inflation rate will close the year at around 7.5 percent. 

Child labor is more of an issue than the 'image of the sector'

Daily Hürriyet reporter Burak Coşan has documented child laborers between the ages of 10 and 14 who work for 12 hours a day at unregistered textile workshops in Istanbul's Küçükpazar neighborhood. 

Turkey's current account deficit drops in December

Turkey's current account deficit stood at $4.27 billion in December 2016, down by $784 million compared to the same month in 2015, an official data showed on Feb. 14. 

Considering the full year of 2016, the current account deficit was announced $32.61 billion with a slight increase from $32.12 billion in 2015, according to the Central Bank data. 

Turks get richer overnight due to revision in GDP per capita data

Turkey's 2015 GDP per capita has increased from $9,130 to 11,014 after the Turkish Statistics Institute (TÜİK) revised how it calculated the figure.

Around 80 million Turks got a nearly 20 percent boost to their average standard of living on Dec. 12 - on paper at least. 

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