Economy of Turkey

Retail sales volume, turnover in key industries rise in April

Both retail sales and turnover in four key sectors, namely industry, construction, trade and services, have increased on an annual basis in April, data from the Turkish Statistical Institute (TÜİK) have shown.

The retail sales volume index rose by 27.5 percent in April from a year ago, though slowing from the 28.8 percent year-on-year increase recorded in the previous month.

EBRD forecasts 2.5 percent growth for Turkish economy

The European Bank for Reconstruction and Development (EBRD) has predicted in its latest Regional Economic Prospects report that Türkiye's earthquake-hit economy will grow 2.5 percent in 2023.

This was lower than the 3 percent growth GDP expansion forecast in the previous report.

The Turkish growth is expected to bounce to 3 percent in 2024, according to the developments bank.

Int’l funds ‘will be at your doorstep on May 15’

The Istanbul Finance Center (IFC) is an important project for the Turkish economy that will allow international funds to flow into the country, Environment, Urbanization and Climate Change Minister Murat Kurum has stated.

"The Istanbul Finance Center project will have a very important place in the future of the Turkish economy," Kurum said at a news conference at the IFC.

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