Turkish economy

A column of Russian missile S-400 Triumf systems drives on Red Square during the Victory Day military parade in central Moscow, on May 9, 2024.

Top US senator: No F-35 jets for Turkey until Russia's S-400 missiles 'gone'

Republican Sen. Jim Risch made the statement during the nomination hearing for Tom Barrack to be the next US ambassador to Turkey. Barrack emphasized Ankara's strategic role in countering Iran in the region and promoting stability in Syria.

Newly elected interim mayor of Istanbul, Nuri Aslan of CHP, waits to speak to the media on March 26, 2025, in Istanbul, Turkey.

Turkey's opposition elects acting mayor as Imamoglu remains detained, protests persist

The Turkish president accuses opposition of sabotaging the economy amid ongoing detentions against protestors over the arrest of the Istanbul mayor.

Protesters clash with Turkish riot police using tear gas and water cannon during a demonstration following the arrest of the mayor of Istanbul in Ankara, on March 22, 2025.

Imamoglu's arrest triggers emergency market measures as Turkey stocks plunge

The Turkish lira and equities have fallen sharply since the arrest last week of Istanbul Mayor Ekrem Imamoglu — a key rival to President Recep Tayyip Erdogan — on corruption charges, which he denies.

Local residents walk past the Blue Mosque, in Istanbul on March 1, 2025, on the first day of the Muslim fasting month of Ramadan. (Photo by Yasin AKGUL / AFP) (Photo by YASIN AKGUL/AFP via Getty Images)

Inflation in Turkey dips under 40%, lowest in nearly 2 years

Finance Minister Mehmet Simsek said he expected the decline in inflation to continue due to Turkish monetary policies.

Latest News

Buoyed by drones, NATO deals, Turkey defense exports hit record $7.1B

A Turkish Bayraktar TB2 combat drone is on view during a presentation at the Lithuanian Air Force Base in Siauliai, Lithuania, on July 6, 2022. - Lithuania on July 6, 2022 exhibited a crowdfunded Turkish-made military drone that it plans to send to Ukraine to help the war-torn country fight Russia's invasion. People in the NATO member country raised 5.9 million euros for the Bayraktar TB2 drone over three days last month, before its Turkish manufacturer Baykar announced it would donate the drone free of cha

Analysis

2024 turnaround: Assad fall grants Turkey’s Erdogan electoral rebound

Turkey's president, Recep Tayyip Erdogan, attends the third session of the G20 Leaders' meeting in Rio de Janeiro, Brazil, on Nov, 19, 2024.

Ezgi Akin

In Ankara, reporting on diplomacy, EU-Turkey ties, NATO

Turkey’s Central Bank lowers interest rates for the first time in nearly 2 years

This picture taken on March 21, 2024 on Istiklal avenue, Istanbul, shows foreign exchange rates displayed against the Turkish lira. Turkey's central bank raised it's key interest rate on March 21, 2024, resuming a tightening cycle in a bid to tame rising consumer prices, one month after having held rates. In a statement the bank said that the monetary policy committee "has decided to raise the policy rate from 45 percent to 50 percent". (Photo by Yasin AKGUL / AFP) (Photo by YASIN AKGUL/AFP via Getty Images

Analysis

Tom Barrack, Trump's pick for Turkey ambassador, is good news for Erdogan

CEO of Colony Capital Tom Barrack speaks on the last day of the Republican National Convention, on July 21, 2016, in Cleveland, Ohio.

Ezgi Akin

In Ankara, reporting on diplomacy, EU-Turkey ties, NATO

Turkish President Recep Tayyip Erdogan looks on during an Extraordinary Summit of the Heads of State of the Organization of Turkic States (OTS), in Ankara, on March 16, 2023.

Analysis

For Turkey, can Turkic OTS be an alternative to BRICS?

Composed of Turkey, six other Turkic nations and Hungary, the Organization of Turkic States meshes cultural kinship with political and economic interests. Can it become more?

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

A man counts Turkish lira at a currency exchange office in Istanbul, July 29, 2020.

Turkey’s Central Bank holds interest rate at 50%

It marks the eighth consecutive month without a change.

TPAO

Turkey’s big plan to launch IPOs for state energy companies: What we know

Turkey's financial recovery travails are likely to be the key reason for the change in energy policy.

Visitors look at the Bayraktar Kizilelma UCAV during the opening day of SAHA EXPO 2024, an international defense and aerospace exhibition, Istanbul, Oct. 22, 2024.

Analysis

Turkey slated to boost defense exports after major arms fair sees $6.2B in contracts

While the additional foreign revenue is good news for Ankara, experts warn that success in the defense industry sector comes with potential risks.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Turkish air force fighter jets perform a military parade over the Bosphorus as Camlica mosque is seen in the background to mark the 100th anniversary of Turkish Republic in Istanbul on Oct. 29,2023.

Erdogan’s AKP postpones bill to impose credit card fees to support Turkey’s defense

Plans to collect credit card fees in a bid to boost the defense industry are put on hold after a public backlash.

Turkish President Recep Tayyip Erdogan wears a scarf with both Turkish and Palestinian flags as he addresses a rally organized by the AKP party in solidarity with the Palestinians in Gaza, in Istanbul on Oct. 28, 2023.

Analysis

Erdogan accuses Israel of wanting to wage war on Turkey despite robust trade ties

These claims, which analysts have deemed absurd, are mainly aimed at appeasing his Islamist base and distracting the broader public from their economic woes.

Amberin Zaman

By Amberin Zaman

In Paris, reporting on geopolitics, minorities, human rights, culture

A street vendor sells corn as he waits for customers in the Eminonu district of Istanbul, Turkey, Aug. 30, 2024.

Turkey's annual inflation falls lower than expected to 49.4%

Turkey's annual inflation slowed down in September, but lower-than-expected figures could delay central bank rate cuts, according to some analysts.

Turkish President Recep Tayyip Erdogan (R) and Chinese President Xi Jinping (L) inspect Chinese honour guards during a welcome ceremony outside the Great Hall of the People in Beijing on July 2, 2019. (Photo by WANG ZHAO / AFP) (Photo by WANG ZHAO/AFP via Getty Images)

Analysis

Turkey's BRICS ambitions hinge on India, China accepting Ankara's bid

Geopolitical equations might pave the way for BRICS members to welcome Turkey in the bloc but such outcome is both complicated and not imminent.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Kent Nishimura/Getty Images

Analysis

Even as Erdogan befriends Putin, Turkey and Ukraine ink major free trade deal

The two countries are finalizing the ratification of the free-trade agreement they signed weeks before the Russian invasion started in February 2022.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

BULENT KILIC/AFP via Getty Images

Turkey’s Central Bank keeps interest rates at 50% as inflation cools

The bank signaled it was ready for further hikes in case of significant deterioration in the inflation outlook.

Turkey's president, Recep Tayyip Erdogan (R), and his Venezuelan counterpart Nicolas Maduro (L) attend a joint press conference after their meeting in Ankara on June 8, 2022.

Turkey’s Erdogan calls Venezuela's Maduro after contested elections, urges dialogue

The Turkish president stopped short of extending congratulations to Nicolas Maduro but expressed his well-wishes for the South American nation after the contested election results, according to a Turkish readout.

A customer buys US dollars in exchange for Turkish lira at an exchange office in Ankara, Turkey, July 20, 2023.

Turkey’s annual inflation slows down to 9-month low of 61%

The drop in the second consecutive month was slightly more than the estimates.