Turkish currency and debt crisis
Retail prices rise 2.3 percent in Istanbul
Retail prices in Istanbul increased by 2.3 percent in August from July, the Istanbul Chamber of Commerce (İTO) said yesterday.
Retail prices in the country's largest city rose by 99.1 percent last month from a year ago and by 64.9 percent from the end-2021.
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Confidence in economy improves in August
The economic confidence index increased by 1 percent in August from July to 94.3, the Turkish Statistical Institute (TÜİK) has said.
Any figure above the 100-mark indicates an optimistic outlook regarding the general economic situation.
The headline confidence index was down 0.2 percent month-on-month in July.
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Growth, foreign trade data due this week
Türkiye will release some key data this week, including GDP growth, foreign trade and the economic confidence index.
The Turkish Statistical Institute (TÜİK) will announce the growth figures for the second quarter on Aug. 31. The Turkish economy expanded 7.3 percent in January-March this year.
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Body language gave them away: Data that will make Europe infuriated
The photographs of the recent cordial meeting between Turkish President Recep Tayyip Erdogan and Vladimir Putin in Sochi reveal in themselves that there is a high level of understanding between the two autocrats.
Inflation expectations rise in August
The end-year inflation expectations in Türkiye increased from 64.9 percent in July to 70.6 in August, according to the Central Bank's Survey of Market Participants.
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Türkiye’s annual inflation at 79.6 percent
Turkish inflation rose to a fresh 24-year high of 79.6 percent in July, official data showed yesterday.
Month-on-month, consumer prices rose 2.37 percent in July, the Turkish Statistical Institute (TÜİK) said. Annually, consumer price inflation was forecast to be 80.5 percent.
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Current account deficit widened to $6.5 bln in May
Türkiye's current account deficit widened by $3.2 billion from a year ago to stand at $6.5 billion in May, the country's Central Bank said on July 8.
The 12-month cumulative current account gap, thus, reached $29.44 billion.
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Inflation expectations rise in July
The end-year inflation expectations in Türkiye increased from 64.59 percent in June to 69.94 in July, according to the Central Bank's Survey of Market Participants.
Consumer prices are expected to increase by 3.4 percent on a monthly basis in June, while the monthly inflation rate is forecast to ease to 2.88 percent in August, the survey, which was released on July 8, also showed.
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Türkiye raises minimum wage by 30%
President Recep Tayyip Erdoğan announced that the minimum wage will be raised by 30 percent to a base of 5,550 Turkish Liras.
The minimum wage for 2022 initially was raised more than 50 percent to a base of 4,250 Turkish Liras ($275) in December.
Türkiye, Economy,
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Turkish banking watchdog announces details of commercial loans decision
Türkiye's banking watchdog has announced the details of commercial loans decision revealed on June 24, while emphasizing that the decision is a measure taken to strengthen financial stability, use resources more efficiently and productively, and ensure that the credit system works effectively.