Easy summer, hard fall in the Turkish economy Mustafa Sonmez(*)
In Turkey, which differs from the world economy with an annual inflation rate of 71.6 percent, the main goal is to return to normal, and for this reason, to reduce…Read more →
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Can Turkey’s economic czar stick to belt-tightening after election loss?, Al Monitor, April 13,2024
Turkish President Recep Tayyip Erdogan and economy czar Mehmet Simsek vowed earlier this month to continue efforts to tackle sticky inflation despite the risk of stoking popular ire with Ankara’s…Read more →
How Turkey’s economic, inflation policy hinges on upcoming local elections (Al Monitor, March 23, 2024)March
Turkey’s March 31 local polls are likely to mark a junction in Ankara’s economic policy, but which way it goes will depend largely on the extent to which the election…Read more →
With $104 billion in damages, Turkey’s earthquake region sees slow recovery (Al Monitor Feb 7,2024)
As Turkey marks the first anniversary on Feb. 6 of last year's massive earthquake, hundreds of thousands of survivors still struggle to return to normalcy with the country’s economic woes…Read more →
What awaits Turkey’s economy as its foreign exchange woes ease?’Al Monitor, Nov 18,2023)
A combination of factors helped Turkey ease its foreign-currency woes during the summer, but the problem could resurge in the coming months as Ankara balks at unpopular measures ahead of…Read more →
Turkey’s central bank mulls giant interest rate hike up to 10% to fight inflation (Al Monitor, Sept.16,2023)
Turkey’s central bank is considering a mammoth rate hike of up to 10 percentage points next week to step up the fight against a sticky inflation and boost Ankara’s economic…Read more →
Can Turkey’s new economic plan restore foreign investor confidence?(Al Monitor, Sept 9,2023)
Turkey’s government has unveiled a new economic program to bring inflation down to single digits by 2026, but questions linger on whether it can attract much-needed foreign investments. The so-called…Read more →
Turkey ends lira protection scheme as banks tally up damage (Al Monitor, August 26, 2023)
New rules introduced by Turkey’s central bank to wind down a costly deposit scheme designed to support the Turkish lira are likely to push banks to increase their government bond…Read more →
Why did Turkey restrict gold imports as it rolled new economic measures?(Al Monitor, August 13,2023)
Two months after the appointment of a new team to fix the inflation-plagued Turkish economy, price increases are on the rise, and Ankara continues to rely on market interventions and…Read more →
Turkey’s smaller-than-expected rate hike comes as relief for banks(Al Monitor, June 24, 2023)
The sizeable but smaller-than-expected rate hike by Turkey’s Central Bank has come as a relief for banks, which had feared the fallout of a much more aggressive and abrupt increase…Read more →
As Turkey grapples with deficit, Erdogan pins his hopes on Gulf funds during visit(Al Monitor, July 16 2023)
A huge budget deficit is among the main issues that Turkish President Recep Tayyip Erdogan and his party face after their election victory in May, but not even an extra…Read more →
Turkey eases forex controls, rate hikes next as Simsek takes charge (Al Monitor, June 14, 2023)
The Turkish lira dropped to an all-time low this week in a sign that Ankara is loosening control of the foreign exchange market after the country’s new economy chief Mehmet Simsek…Read more →
After reelection, can Erdogan tackle Turkey’s economic woes?(Al Monitor, June 2, 2023)
Turkey’s economic turmoil will challenge newly reelected President Recep Tayyip Erdogan as uncertainty lingers on whether he will stick to his controversial economic policies or take a more orthodox path.…Read more →
Turkey Elections: Currency fears grow ahead of presidential runoff, (Al Monitor, May 23, 2023)
Turkish markets remain on edge ahead of Sunday’s presidential election runoff as apprehension builds up that President Recep Tayyip Erdogan’s reelection would spell deeper economic woes and send the Turkish lira…Read more →
Turkey election pledges foretell bigger budget deficit (Al Monitor, April 30, 2023)
Both the government and the opposition have made a seemingly endless stream of economic pledges in the run-up to Turkey’s crucial May 14 elections. As voters grapple with the worst cost-of-living…Read more →