Turkish economy

Turkey's Minister of Finance Mehmet Simsek takes part in a panel discussion during the Doha Forum in the Qatari capital on December 7, 2024. (Photo by KARIM JAAFAR / AFP) (Photo by KARIM JAAFAR/AFP via Getty Images)

Turkey's Simsek says economy will ride out Trump tariffs without lasting scars

Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop.

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.

Latest News

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

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)

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

FASANO, ITALY - JUNE 14: President of Turkey, Recep Tayyip Erdogan is welcomed by Italy's Prime Minister Giorgia Meloni on day two of the 50th G7 summit at Borgo Egnazia on June 14, 2024 in Fasano, Italy. The G7 summit in Puglia, hosted by Italian Prime Minister Giorgia Meloni, the seventh held in Italy, gathers leaders from the seven member states, the EU Council, and the EU Commission. Discussions will focus on topics including Africa, climate change, development, the Middle East, Ukraine, migration, Indo

Analysis

Joining BRICS comes with limitations for Turkey: No alternative to NATO

Turkish Foreign Minister Hakan Fidan’s visits to China and Russia to attend the meeting of the BRICS groups of nations reignited never-ending debates about Turkey’s “turn away” from the West.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Turkey's President Recep Tayyip Erdogan (L) and India's Prime Minister Narendra Modi shake hands ahead of the G20 Leaders' Summit in New Delhi on September 9, 2023. (Photo by Ludovic MARIN / POOL / AFP) (Photo by LUDOVIC MARIN/POOL/AFP via Getty Images)

Analysis

After Modi's win, can Turkey-India ties grow despite Kashmir, IMEC differences?

Turkish officials and experts believe there is room for the two countries to expand cooperation despite their differences.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Turkish Foreign Minister Hakan Fidan is on a visit to Xinjiang Uyghur Autonomous Region in northwest China Photo Credit: @HakanFidan on X

Analysis

Have Turkey, China hit reset button on Uyghurs as Fidan visits Xinjiang?

Experts say Beijing and Ankara skillfully managed the contentious Uyghur issue during the Turkish diplomat's China visit, but Fidan's messages might raise eyebrows in the West.

Ezgi Akin

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

Turkish Foreign Minister, Hakan Fidan (C) welcomes his Chinese counterpart and Director of the Office of the Central Foreign Affairs Commission, Wang Yi (R) in Ankara, on July 26, 2023.

In China, Turkey’s Fidan says he plans to attend BRICS meeting in Russia

The top Turkish diplomat says his country explores new opportunities with BRICS

A teller counts US dollar bills at an exchange office in Ankara, Turkey, July 20, 2023.

Turkey’s inflation tops 75% but economy czar says 'worst is over'

Finance and Economy Minister Mehmet Simsek has said that inflation will begin dropping from June.

Kurdish women hold portraits of their missing sons on May 18, 2011, during a demonstration in Istanbul against the recent killing of 12 Kurdish rebels by security forces.

Many faces of motherhood in Turkey: From new Mothers Museum to 1,000th vigil of Saturday mothers

As a new museum in Ankara pays homage to motherhood, the mothers of the country remain a fractured group, divided by political lines and economic woes

People exchange money at a currency exchange office on Aug. 13, 2018, in Istanbul, Turkey.

Turkey expects removal from global money laundering ‘grey list’: VP

The Turkish vice president said that if the watchdog doesn’t remove the country from its grey list, it would be “due to political reasons."

A Eurofighter Typhoon FGR4 belonging to the Royal Air Force shortly after takeoff.

Can warmer Germany-Turkey ties bring Ankara Eurofighters along with Airbuses?

Experts believe Turkish-German defense ties will see some strides following the German president’s much-hyped Turkey visit.

People walk at Kadikoy district in Istanbul on March 5, 2024. Turkey's annual inflation rose again in February, reaching 67.1 percent despite a string of interest rate hikes, official data showed on Monday. The Turkish central bank held its key interest rate at 45 percent last month, pausing after eight straight increases aimed at taming consumer prices that had remained stable at 64.9 percent in January.

Breaking | Last Updated: May 8, 2024, 5:06 am

Turkey’s annual inflation surges to almost 70% in April

April's inflation rate marks Turkey’s highest in the past 16 months, driven primarily by price increases in education, restaurants and hotels, and transportation.

This photograph taken on Sept. 22, 2023, shows an Armenian flag fluttering near the border with Azerbaidjan near Kornidzor.

As Russia's footprint slumps, can Turkey anchor Armenia, Azerbaijan to West?

Russia’s declining footprint in the South Caucasus presents an opportunity for Turkey to anchor Azerbaijan and Armenia to the Western fold.

Turkey inflation

Breaking | Last Updated: April 25, 2024, 11:31 am

Turkey’s Central Bank keeps interest rates at 50% despite rising inflation

The decision comes after an unexpected hike of 500 basis points last month that increased rates from 45% to 50% as monetary tightening resumed after a one-month pause.

Steinmeier Kabob

Erdogan and Germany's Steinmeier chuckle over doner kebab as ties grow

The German president’s visit, marking the centennial of diplomatic ties between Turkey and Germany, came during a challenging time for Ankara-Berlin relations, given the wide gap over the Israel-Hamas war.