Turkish economy

Turkey’s middle class put on austerity footing amid skyrocketing prices

Staggering price increases are forcing Turkey’s middle class to cut on spending in myriad fields, from shopping and transport to dining and travel.

Turkey

Erdogan hopes fence-mending trip to Saudi Arabia eases financial woes

Following normalization with the UAE in November, Erdogan plans to pursue reconciliation with Saudi Arabia next month, pressed by financial woes at home, as both sides appear ready to leave the Khashoggi affair behind.

Turkey

Turkey’s opposition faces Erdogan’s ire as economic crisis muddles election timetable

Opposition parties are under growing pressure as Turkey waits to see if Recep Tayyip Erdogan will call early elections despite skyrocketing prices.

Turkey

Turkish inflation hits highest level under Erdogan's rule

Turkey’s consumer inflation is bound to increase further in the coming months after reaching 36% in 2021, with even bigger numbers recorded in the producer sector.

Turkey

Turkey rolls out homegrown vaccine amid surge in Omicron cases

Turkish health officials claim the vaccine Turkovac is efficient against Omicron, while experts warn of a lack of data.

Turkey

Turks keep holding on to dollars as mistrust in Erdogan lingers

Ankara’s currency-defense scheme has stopped the lira’s nosedive for now, but there is no tangible sign that a return to the lira has begun to reverse the alarming dollarization in the country. 

Turkey

Egyptian travel companies profit on Turkey visits due to falling lira

Egyptian tourism companies are seeking to take advantage of the low exchange rate of the Turkish lira to promote their programs in Turkey even after the summer season is over.

Egypt

In Egypt, elation at Turkish currency crisis

As Turkey faces a currency crisis, its toughest in years, Egyptians are enjoying the spectacle from the sidelines, remembering many confrontations over the past decade.

Egypt

Bread prices ring alarm bells in Turkey

For low-income households, bread and its price have become all the more important now that their purchasing power has melted amid the slump of the Turkish lira and surging inflation.

Turkey

Erdogan’s new economic plan no remedy for lost purchasing power

Even as Ankara rolls out a new scheme to contain the country’s currency crisis, the severe losses of millions of low-and middle-income Turks appears irreversible.

Turkey

Why have AKP elites lost touch with reality?

The presidential system’s negligence of Turkey’s realities has turned what would be a difficult economic and political era anyway into one that is also dark and dangerous. 

Turkey

Can Turkey's outreach to Armenia save US-Turkish ties?

Although Turkey-Armenia normalization is not guaranteed, mutual moves by Ankara and Yerevan are hopeful steps in the right direction.

Turkey