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

Latest News

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

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.