Economic history of Turkey

President Recep Tayyip Erdoğan capped off 2024 with a day-long social media campaign, outlining his government's key achievements of the past year.

Sharing 239 infographics under 20 main headings, Erdoğan detailed initiatives spanning defense, education, economy and public welfare.

The government has unveiled a new Southeastern Anatolia Project (GAP) Action Plan covering the period of 2024-2028 to support the region's economic development through large scale investments.

The budget deficit is expected to fall below 5 percent of the gross domestic product (GDP) at the end of 2024, Vice President Cevdet Yılmaz has said.

In the medium-term program, the government predicted that the central government budget would be 2.65 trillion Turkish Liras or 6.4 percent of the estimated GDP.

President Recep Tayyip Erdoğan has strongly endorsed U.N. Secretary-General Antonio Guterres' recent remarks on reforming the Security Council, emphasizing the need for a more equitable global system that includes African representation.

Some 550 billion Turkish Liras were withdrawn from the system after reserve requirement ratios for Turkish lira deposits and FX-protected deposits (KKM accounts) were raised, the Central Bank has said.

Credit ratings agency S&P on Friday upgraded Turkey's ratings to "B+" from "B", saying that the coordination between monetary, fiscal, and income policy is set to improve, amid external rebalancing.

The credit action comes a week after the Turkish central bank kept its policy rate unchanged at 50%.

President Recep Tayyip Erdoğan has asserted that his ruling Justice and Development Party (AKP) "stands unrivaled" in its commitment to serving the nation.

Erdoğan's remarks came during an event in the southeastern province of Şanlıurfa, where he unveiled the AKP's mayoral candidates in the city for the upcoming local elections.

The police apprehended 40 individuals believed to have links to an attempted terrorist attack on an Istanbul courthouse, resulting in the death of a woman, Interior Minister Ali Yerlikaya has announced.

Two people attacked Turkey's largest courthouse before being shot dead Tuesday in an exchange of fire that also left one other person dead and five wounded. Authorities alleged the assailants were part of an extremist organization that had been largely inactive in recent years.

Two people have been shot dead while trying to attack a courthouse in Istanbul on Feb. 6, Interior Minister Ali Yerlikaya has announced.

The man and woman were killed during an attempt to attack a security checkpoint at the Çağlayan courthouse at 11:46 a.m. local time, the minister posted on social media.