Economy of Northern Cyprus

There is plot which aims to show the Turkish economy to be worse off than it actually is by exaggerating current developments, according to Customs Minister Nurettin Canikli. 

Turkey's embattled lira on April 15 tumbled to a new low in value against the dollar.
      
The lira broke above the psychologically important level of 2.7 to the dollar to trade at 2.703 to one dollar, a loss in value of 0.57 percent on the day.
      

The Turkish lira plumbed another record low against the dollar on April 14, as investors punished the currency on fears of rising political instability ahead of the June 7 parliamentary election.

The Turkish Lira weakened to a new record low, extending this year's losses to 12 percent, underperforming most of its emerging market rivals against a surging U.S. currency.

A luxury official car issued to Mu?la Metropolitan Municipality Mayor Osman Gürün, a member of the main opposition Republican People?s Party (CHP), has become a matter of public debate across the country.

CHP provincial head Mürsel Alban said the luxury official car, which is worth about 770,000 Turkish Liras, was purchased through a bank promotion.

Turkish markets recovered on March 19, with the Turkish Lira at its firmest in two weeks and stocks rallying as investors back into emerging markets after the U.S. Federal Reserve (Fed) sounded a cautious tone on the timing of rate hikes.

The lira rebounded to 2.5610 to the dollar earlier in the session, its firmest since the beginning of March.

Turkey?s Central Bank left interest rates on hold on March 17 as the lira?s slide to record lows risked stoking inflation, resisting pressure from political circles to cut rates ahead of a June election.

Turkey's economy is facing the dangers of a rapid dollarization, in other words, an escape from the Turkish Lira and a focus on the dollar, and a production fall in the industrial sector, thus causing a negative trend in the growth rate, which will escalate unemployment.

I finally graced the pages of pro-government ?newspaper? Sabah on March 7 for my March 6 column, joining other respected Turkish and foreign journalists and columnists they also accused of treason and being an enemy of Turkey. I am only angry it didn?t come any sooner.

Turkish President Recep Tayyip Erdo?an on March 11 met with the government's economic pointman and the central bank governor, agreeing on the need to maintain trust in the economy at talks aimed at calming markets after a plunge in the value of the lira.