All News on Economics in Turkey
Turkey's 2014 growth up to 3 percent, minister foresees
Economy Minister Nihat Zeybekci has said Turkish economic growth in the first quarter will not be negative, nor at its desired level, with an expected growth of 2.8 to 3 percent in 2014.
Zeybekci also said he expected a recovery in economic growth beginning in the second quarter.
US dollar stems external pressure over several countries, including Turkey: Moody's
The stronger U.S. dollar has stemmed external pressures in some countries from signs of weaker currencies and falling foreign exchange reserves.
In a report published on March 23, Moody?s Investor Service said external pressures in some countries are translating to capital outflows or significantly lower inflows as the U.S. dollar hurts countries with large external funding needs.
Erdo?an's Turkey corp.
In a speech in the western province of Bal?kesir on March 15, President Recep Tayyip Erdo?an made yet another controversial remark by stating that he wanted to run Turkey like a corporation.
Possible rate hike by Fed threatens Turkish housing sector, S&P says
An expected rate hike by the U.S. Federal Reserve Bank is creating an uncertain environment for foreign capital flows to Turkey that could ultimately hurt the housing industry, but domestic and overseas demand is rebounding, according to a Standard and Poor's (S&P) report.
Turkish TAV's CFO named young leader of World Economic Forum
TAV Airports Finance Vice President (CFO) Burcu Geri? has been selected to the Forum of Young Global Leaders, the company said in a written statement on March 17.
An initiative of the World Economic Forum, the Forum of Young Global Leaders is a community made up of the world?s most outstanding next-generation leaders, who are committed to improving the state of the world.
Turkey's current account deficit narrows to $2 billion upon oil slump
Turkey?s current account deficit narrowed to $2 billion in January, beating estimates, thanks to the decrease in oil prices and the fall in the foreign trade deficit in the same period, according to data released by the Central Bank on March 11.
The annual current account deficit fell to $42.87 billion in January from $45.85 billion in the previous month, according to the data.
Do?an rules out speculation claims
Do?an Holding has denied claims that it profits from the rise of the dollar exchange rate in Turkey, stressing that the latest hikes actually hurt it financially.
The corporation?s March 10 statement came after a number of newspapers accused the group of engaging in ?crisis-mongering? to profit from the dollar?s rise.
Turkish economy minister sees no need for Central Bank to intervene on lira
Turkish Economy Minister Nihat Zeybekci has said he does not see a need for the Central Bank to intervene in the foreign-exchange market amid severe fluctuations in the markets.
The Central Bank should have cut interest rates before its monetary policy committee meeting in February, he said March 10 in comments during a televised interview.
Interest rate-foreign exchange rate conflict under the shadow of politics
In Turkey's economic agenda, as in several other emerging countries, there has been a conflict going on for a long time about the price of the interest rate and foreign currency.
Turkey should find oil or attract more investment to avoid middle income trap: World Bank
Turkey needs to rebuild trust to attract more investments so as to avoid the middle-income trap, said the World Bank Country Director for Turkey, Martin Raiser.
Turkey's external gaps growing rapidly
Turkey?s foreign liabilities have jumped by $41 billion while the rise in its foreign assets remained at $4 billion, revealing the vulnerabilities of the country The ?equilibrium? situation in countries? relations with global economy has vital significance.
Turkish finance minister urges fight against inflation
Turkey needs to maintain its fight against inflation until it falls below an annual rate of 5 percent for good, Finance Minister Mehmet ?im?ek said Feb. 18 in an interview on Turkish news channel CNN Türk.
He added too much talk over the Central Bank's monetary policy may cause concerns among investors.
Gov't trusts Central Bank: finance minister
Finance Minister Mehmet ?im?ek has backed the Central Bank amid increasing criticism against the bank from political circles due to its rate policies.
?The Central Bank has performed well and the government trusts the bank,? ?im?ek said in a meeting in the Black Sea province of Sinop on Feb. 14.
Istanbul G-20 meeting starts with growth focus
Finance ministers and central bankers face a tough task coordinating action to spur global growth at G-20 meetings this week, with major economies running at different speeds and monetary policies diverging.
Turkey's top business group urges maintenance of institutions' independence
The independence of the Central Bank and similar institutions is important for business circles, the head of Turkey?s top business organization has said, calling for an end to recent developments that cast a shadow over the independence of key institutions.