Economy of Northern Cyprus
Transport, water prices hiked in Istanbul
Public transport prices, including buses and taxis, have been hiked by 40 percent, while water prices have been increased by 29 percent in Istanbul.
The Istanbul Metropolitan Municipality's Transportation Coordination Center (UKOME) met on April 6 to set new prices for the city's public transport.
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Historical Turkish banknote up for sale
A first-emission 1,000 Turkish Lira banknote which was printed in the U.K. in 1927 was put up for sale at an online auction with an opening price of 800,000 Turkish Liras (nearly 60,000 dollars).
The banknote features a portrait of Mustafa Kemal Atatürk, founder of modern Turkey, on the front and an image of the Geyve strait section of the Sakarya railway line on the other side.
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Government mulling options to reduce utility bills: Minister
Energy and Natural Resources Minister Fatih Dönmez said on Feb. 11 that the Turkish government is determined to draw up broad measures soon that will provide relief to families and businesses amid soaring utility bills.
Turkey aims at 5,000 tons of gold savings: Minister
Turkey aims to attract nearly 5,000 tons of under-the-mattress gold into the financial system, Treasury and Finance Minister Nureddin Nebati said at a press conference in London on Feb. 8.
Prices to ease after April, minister says
Inflation rates in Turkey could peak in April before falling to single digits by the June 2023 general election, Treasury and Finance Minister Nureddin Nebati told Nikkei Asia in an interview published on Feb. 3.
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We are taking steps to protect our people from high inflation: Erdoğan
We are taking steps one by one which will protect our people from high inflation and high cost of living, President Recep Tayyip Erdoğan said on Jan. 31 after the Presidential Cabinet meeting.
The raises in employees' incomes, including the minimum wage, public servants' salaries and pensions, are among those steps, he added.
Central Bank intervenes in ‘unhealthy’ FX pricing
The Turkish Central Bank intervened in foreign exchange markets for a third time this month on Dec. 10, citing "unhealthy price formations."
"The Central Bank of the Republic of Turkey directly intervenes in the market via selling transactions due to unhealthy price formations in exchange rates," said the bank.
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Fitch raises growth forecast to 10.5 percent
International credit rating agency Fitch has raised its Turkey growth forecast for 2021 from 9.2 percent to 10.5 percent, while it changed its outlook assessment from stable to negative.
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Central Bank intervenes in FX market
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Turkish Opposition Leader Calls for Calm Amid Economic Protests
Meral Aksener, the leader of the 'Good Party' (IYI) speaks in front of the picture of Mustafa Kemal Ataturk, founder of modern Turkey, in Kocaeli, 19 June 2018. Photo: EPA-EFE/ERDEM SAHIN