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

Chris McGrath/Getty Images

Turkey's annual inflation surges to 15-month high of 67%

With Turkey's annual inflation at 67%, a 15-month high, analysts argue that the Central Bank will need to resume monetary tightening.

Member of the Taliban delegation Khairullah Khairkhwa (R) arrives at Ankara Esenboga Airport on Oct. 14, 2021.

Can Turkey-Afghan trade ties bloom despite lack of recognition for Taliban?

Turkey's Foreign Minister Hakan Fidan attends the joint press conference of presidents of Turkey and Iran in Ankara, on January 24, 2024. (Photo by ADEM ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

Turkey’s Fidan set to visit Venezuela and meet Maduro

The Turkish foreign minister is set to make his inaugural visits to Venezuela and Mexico in his capacity as his country’s top diplomat.

Turkish Central Bank Governor Fatih Karahan speaks at the bank's first meeting of the year, Ankara, Feb. 8, 2024.

Turkey’s Central Bank holds interest rates at 45%, first time in 8 months

The move was widely expected as the bank signaled earlier this month that it would pause the hikes.

China Railway Express Chang'an freight train arrives at the Ankara train station, Turkey, on November 6, 2019. The first freight train, "Trans-Caspian China Railway Express", departing from China and going to Europe by using Marmaray, was sent off at Ankara Station.

Can Turkey, Iraq pull off 'Dry Canal' project?

While experts believe the ‘Dry Canal’ project involving road and rail networks faces an uphill battle, the initiative seems to stand a better chance than its alternatives.

Turkish Central Bank Governor Fatih Karahan gestures as he speaks during the first meeting of the year in Ankara, Feb. 8, 2024

Turkey’s new Central Bank chief says new hikes on table if inflation deepens

Turkey's new Central Bank chief, Fatih Karahan, signals that interest rate cuts are far off and that new hikes may be on the table, depending on the inflation outlook.

In an aerial view, a new housing project under construction for displaced earthquake survivors is seen in the Gulderen district on Feb. 1, 2024, in Hatay, Turkey.

With $104 billion in damages, Turkey’s earthquake region sees slow recovery

Turkey’s quake victims can hardly hope for a faster recovery, as Ankara seems to be keeping the pace of reconstruction tied to its overall economic roadmap, wary of overheating the fragile economy.

Turkish Central Bank Governor Hafize Gaye Erkan attends the Planning and Budget Commission of the Turkish Grand National Assembly (GNAT) in Ankara on Oct. 3, 2023.

Breaking | Last Updated: February 2, 2024, 6:35 pm

Turkey names Fatih Karahan as Central Bank chief after Erkan's resignation

Gaye Erkan's resignation comes after a series of allegations by former and current Central Bank employees accusing Erkan of unethical conduct.

Turkey inflation 1

Turkey’s Central Bank raises interest rates to 45%

A pause in hikes will follow, ahead of upcoming local elections in March, when Turkish President Recep Tayyip Erdogan is looking to regain control of key cities.

Turkish Central Bank Governor Hafize Gaye Erkan attends the Planning and Budget Commission of the Turkish Grand National Assembly in Ankara on Oct. 03, 2023.

Turkey's first female central bank chief faces potential axe amid nepotism claims

The question concerning Hafize Gaye Erkan's dismissal is increasingly not "if" but "when," observers say.

stock photo of market

Turkey’s year-end inflation soars to almost 65%

Newly announced minimum wage hikes and upcoming pay raises for public servants, workers and pensioners bode a resurgence of price spikes across the board.

Turkish President Recep Tayyip Erdogan.

Turkey’s exports to Saudi Arabia, UAE and Russia shoot up in 2023: Erdogan

The Turkish president also said the country’s total export revenues reached an all-time high.