Turkish economy

An export train to Russia and China leaves the Ankara station, on Jan. 29, 2021.

Turkey secures $2.8B green financing for Azerbaijan railway: What to know

The 223-kilometer railway will connect to the existing train route that joins Turkey’s northeastern city of Kars and the Georgian and Azerbaijani capitals of Tbilisi and Baku.

Iraqi workers tend to a pipe at the Iraqi-Turkish pipeline in Karkuk, northern Iraq, Dec. 1, 2000.

Why Turkey plans to end its 52-year oil pipeline deal with Iraq

The Turkish decree stipulated that the 1973 Turkey-Iraq Crude Oil Pipeline Agreement — along with all amendments to the deal — would be terminated effective July 27, 2026.

ADEM ALTAN/AFP via Getty Images

Turkey closes livestock markets amid foot-and-mouth disease outbreak: What to know

The Agriculture Ministry has closed all livestock markets to prevent spread of the disease while vaccination efforts are underway.

Flags flutter along a bridge as a plume of heavy smoke and fire rise from an oil refinery in southern Tehran, after it was hit in an overnight Israeli strike, on June 15, 2025. Iran fired a fresh barrage of missiles at Israel, state television announced early on June 15, as the rivals exchanged fire for a third day. (Photo by ATTA KENARE / AFP) (Photo by ATTA KENARE/AFP via Getty Images)

Analysis

With over 85% imported, Turkey braces for energy ripples of Iran-Israel war

Rising oil prices threaten Turkey’s fragile economy amid escalating regional tensions, while energy supply risks grow.

Ezgi Akin

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

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Turkey: $30M credit card scam hits tourists in coastal resort, 20 arrested

People enjoy the sun and the sea along the Kadinlar Beach of Kusadasi on July 17, 2005.

As Turkey's inflation dips to 35%, will central bank pivot on interest rates?

Price tags of olives are seen at a store on March 3, 2025, in Istanbul, Turkey

Analysis

Can Turkey's Hurjet deal with Spain propel it into NATO’s defense market?

People look at the Hurjet, an advanced jet trainer light attack aircraft, during the opening day of the International Defense and Aerospace exhibition in Istanbul, Oct. 22, 2024.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

India wages economic war on Turkey for supporting Pakistan in Kashmir

TAUSEEF MUSTAFA/AFP via Getty Images

Turkey Saudi Arabia

What is behind Erdogan's multi-pronged foreign policy push for Turkey in Gulf?

Veteran diplomats and foreign policy analysts welcome the recent turnaround in Ankara’s international dealings, while remaining skeptical over its sustainability.

Turkish President Recep Tayyip Erdogan (L) and his Algerian counterpart Abdelmadjid Tebboune (C) review a military honour guard hand-in-hand during a arrival ceremony, in Ankara, on May 16, 2022. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Algeria’s Tebboune heads to Turkey after China visit

The Algerian president will be the fourth foreign leader the Turkish president will host after his inauguration.

This combination of pictures created on April 1, 2018 shows a file photo taken on November 19, 2017 of Israel's Prime Minister Benjamin Netanyahu (L) attending the weekly cabinet meeting in Jerusalem and a file photo taken on December 15, 2017 of Turkish President Recep Tayyip Erdogan during the inauguration ceremony of Turkey's first automated urban metro line on the Asian side of Istanbul. Turkish President Recep Tayyip Erdogan accused Benjamin Netanyahu on April 1, 2018 of being "a terrorist" after the I

Israel's Netanyahu to visit Turkey after 14 years as ties with Erdogan improve

Once archenemies, Netanyahu and Erdogan will meet for the first time after many years of conflict.

Turkish exchange rates

Breaking | Last Updated: July 20, 2023, 10:59 am

Turkey’s Central Bank hikes interest rates to 17.5%

The 250 basis point rise was lower than analysts' expectations, many of whom advocate for a steeper hike.

UAE President Mohamed bin Zayed Al Nahyan (R) greeting Turkey's President Recep Tayyip Erdogan

Turkey, UAE ink $50 billion in trade deals during Erdogan visit

The $50 billion worth trade deals come as the Turkish government is struggling to draw foreign funds to ease its currency crisis.

United Arab Emirates

A young man looks at the Bayraktar TB2 drone, manufactured by Turkey's Baykar, as it is presented during the opening of the Teknofest Azerbaijan aerospace and technology festival at Baku Crystal Hall, Baku, Azerbaijan, May 27, 2022.

Saudi Arabia signs major deal with Turkey to acquire Baykar drones

Riyadh has long been interested in Baykar drones and the possibility of producing the weapons in Saudi Arabia.

Turkey's President Recep Tayyip Erdogan (L) welcomes Crown Prince of Saudi Arabia Mohammed bin Salman (R) during an official ceremony at the Presidential Complex in Ankara, on June 22, 2022. Saudi Arabia's de facto ruler took a big step out of international isolation on June 22, 2022, paying his first visit to Sunni rival Turkey since the 2018 murder of journalist Jamal Khashoggi in the kingdom's Istanbul consulate. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Turkey’s Erdogan arrives in Saudi Arabia, first stop on Gulf tour

Turkish President Recep Tayyip Erdogan said his three-day Gulf tour, which includes Saudi Arabia, Qatar and the United Arab Emirates, will focus on economic cooperation.

Turkish President Recep Tayyip Erdogan (R) welcomes Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan (R) during an official ceremony at the Presidential Complex in Ankara, on November 24, 2021. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Analysis

As Turkey grapples with deficit, Erdogan pins his hopes on Gulf funds during visit

Ankara is hoping for an inflow of Gulf dollars as the battered lira remains under pressure amid a gaping budget deficit and reluctance to take firmer measures to tame inflation.

Mustafa Sonmez

By Mustafa Sonmez

In Istanbul, reporting on economics

Turkish President Recep Tayyip Erdogan (R) shakes hands with Swedish Prime Minister Ulf Kristersson during their meeting ahead of the NATO Summit on July 11, 2023 in Vilnius, Lithuania. The summit is bringing together NATO members and partner countries heads of state from July 11-12 to chart the alliance's future, with Sweden's application for membership and Russia's ongoing war in Ukraine as major topics on the summit agenda. (Photo by Filip Singer - Pool/Getty Images)

Inside Turkey's three dimensions for changing tune on Sweden's NATO bid

Turkey’s surprise decision on the Swedish NATO bid seems to be underpinned by considerations on defense and economic areas.

ADEM ALTAN/AFP via Getty Images

Turkey's Erdogan anticipates 'serious investments' from Gulf ahead of visit

Ahead of Turkish President Recep Tayyip Erdogan’s Gulf tour which will include Saudi Arabia, the UAE and Qatar, Ankara is working to maximize economic cooperation with regional states in a bid to ease its foreign currency crunch.

This photo taken on July 10, 2012, in Ankara shows people at a traditional "doner" fast food restaurant. In Turkey 35% of the population has accumulated excess body fat to the extent that it may have an adverse effect on health, leading to reduced life expectancy and/or increased health problems. The Turkish health ministry has launched a campaign calling on Turks to be more active. AFP PHOTO/ADEM ALTAN (Photo credit should read ADEM ALTAN/AFP/GettyImages)

Bahrain, Turkey are Middle East's biggest eaters: Oxford rankings

Bahrain and Turkey are listed among the top eaters globally, while daily calorie consumption in war-ridden Yemen stands behind the recommended level.

Turkish minister of Treasury and Finance Mehmet Simsek,(L) speaks with minister of Energy and Natural Resourcesand Alparslan Bayraktar,(R) during the group meeting of Justice and Development (AK) Party at the Turkish Grand National Assembly in Ankara, on June 21, 2023. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Turkey's finance, banking chiefs to visit Saudi Arabia in search of foreign funds

The Saudi visit of Finance Minister Mehmet Simsek and Central Bank Governor Gaye Erkan is expected to be followed by the Turkish President's Gulf tour.