All News on Economics in Turkey
Turkey closes 233 gas stations amid crackdown on smuggling
Turkey has shut down over 230 gas stations for selling smuggled fuel over the past 15 months, the Customs Ministry has announced, amid the struggle against illegal oil sales, which have reached alarming levels due to turmoil in neighboring Iraq and Syria.
Loan growth and external debts raise Turkish banks’ vulnerabilities: Fitch
Turkish banksâ rapid credit growth and higher external debt increases downside risks in the case of extremely stressed market conditions, Fitch Ratings has said in its latest statement over risks looming over the countryâs economy.
Eurozone exports hit by Russian crisis
Economic crisis in Russia and sluggish demand from Turkey weighed on hopes for an export-led recovery in the eurozone in June, official data showed on Monday.
Exports from the 18-nation single currency zone dipped by 0.5 percent in June compared with May to 162.2 billion euros ($217 billion), the Eurostat statistics agency said.
Turkish unemployment falls below 9 percent after 10 months
Turkish unemployment declined to the lowest level of 10 months in the period of May, sustaining a downward trend that has been continuing since the beginning of the year, as shown by official data.
Turkish economy minister sees lower rates as vital after elections
The Turkish government will maintain its calls for lower interest rates following Prime Minister Tayyip ErdoÄanâs victory in the countryâs first direct presidential election, the economy minister said on Aug. 11.
Target likely missed as inflation in Turkey heads toward 10 percent
Though Turkey has long sought to rein in inflation, it is often been unsuccessful. Now, it is bracing for more problems as inflation creeps toward double-digits Inflation is a âmonsterâ that Turkey, like many other emerging economies, sees as a threat to the wealth of the economy, appointing the Central Bank as a guardian to watch over it.
Main opposition warns against alarming mortgage increases
The excessive rise in housing prices in Istanbul despite a property boom concerns sector representatives, who warn against a real estate crisis that may spill over to other cities, a new Economic Outlook report released by the main opposition party has said.
Turkey’s population ‘to be 86 million in 2030’
Turkeyâs population is expected to be higher than 86.8 million as of 2030, with an increase of more than 10 million, according to a report released by the United Nations Development Program (UNDP).
Fragile economy needs reform: IMF to Turkey
The IMF issued a report Monday which featured concerns that were far in excess of those entertained by ministers like Ali Babacan, even though the minister â who is most trusted by financial markets â said Turkey was ready for the normalization of monetary policies in developed countries.
Serbia considers law to speed up privatisation
Serbia considers law to speed up privatisation
US gunmaker fined for Turkey, Indonesia bribes
U.S. gunmaker Smith & Wesson has been hit with $2 million in fines for bribing officials in Turkey Indonesia, Pakistan, and other countries to gain sales deals.
Fragilities are increasing in Turkey's economy
While political and geostrategic risks increase, the deterioration in the economic data also increases the fragility of the Turkish economy each day. The effects on the market of developments that took place last week in our region have been lower than expected. After just a few days of deterioration, markets returned to positive trends.
Monetary policy exacerbates inequality
As I explained in my last column, one major difference between academic and market economists regarding monetary policy is the latter are expected to say what the Central Bank will do, rather than what it should do. On that measure, most did well yesterday: As they predicted, the Central Bank lowered its policy rate by 0.5 percentage points.
Top Treasury official to represent Turkey in IMF’s top board
Turkish Treasury Undersecretary Ä°brahim Ãanakçı has been appointed International Monetary Fund (IMF) Executive Director, marking the first time Turkey earning the right to be directly be represented in the main governing body of the international lender.
Turkey’s privatization revenues near $10 billion after lottery sale
Turkey will make nearly $10 billion from privatization of state sales if all of the most recent privatizations, including the national lottery sale for an over the top price, were approved by the government Turkeyâs income from privatizations since the beginning of the year has exceeded expectations, approaching $10 billion with the recent privatization of a 10-year national lottery li