Turkish lira
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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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.
Demand strong for new bonds, says Nebati
Demand has been strong for the newly introduced revenue-indexed domestic bonds, Treasury and Finance Minister Nureddin Nebati has said.
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Turkish Lawyers Urge Cancellation of ‘Cash-for-Citizenship’ Scheme
Turkish and Austrian passports in 2017. Photo: EPA/LISI NIESNER
The Bar Association said in a statement that citizenship "expresses a legal and political bond and commitment to the state", and that putting a financial value upon it "has made the concept of citizenship abstract and alienated it from its essence".
Turkey's Finance Ministry says fight against inflation remains priority
Turkey's Treasury and Finance Ministry said on June 10 the fight against inflation remained the top priority in its macroeconomic policy, with fiscal discipline never to be compromised.
Turkey Acts to Limit Rent Increases Amid Soaring Inflation
Buildings in Istanbul. Photo: Pixabay/btastinkaya
According to the new regulation, rent price hikes will be limited to 25 per cent until July 2023.
"Rents can only be increased by 25 per cent. We tried to protect the rights of both tenants and landlords," Turkish Justice Minister Bekir Bozdag told reporters before the parliamentary vote on Wednesday.
Banks’ boost their income in January-March
The combined profit of Turkey's banks increased from 16.4 billion Turkish Liras in January-March 2021 to 63.2 billion liras in the first quarter of this year, the Banking Regulation and Supervision Agency (BDDK) has said.
That corresponded to a whooping 295 percent increase in the industry's profit on an annual basis.
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A Stable Lira Rate probably helped Turkey to near Inflation Peak
Karaca Island for sale for $24.3 mln
The owner of Karaca Island, located in the Gökova Gulf, has updated the island's sale price from 145 million Turkish Liras ($9.8 mln) to 360 million liras ($24.3 mln).
Real estate agents in the southwestern province of Muğla's Marmaris district, where the island is located, said the owner is a Turkish businessman living in the U.S.
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