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

Turkish President Tayyip Erdogan (L) arrives under the rain to the Turkish Parliament to take oath of office after his election win at the parliament in Ankara, Turkey, on June 3, 2023. Turkey's Recep Tayyip Erdogan was sworn in for a third term as president on June 3, promising to serve "impartially" after winning a historic runoff election to extend his two-decade rule. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

2023 in review: From disaster to diplomacy, a climactic year for Turkey

Ankara and NATO capitals are once again at loggerheads despite Turkey’s restoration vision put forward after the May elections.

Visitors inspect sniper rifles during the opening day of Egypt Defence Expo (EDEX-2023) at the Cairo International Exhibition Center, Dec. 4, 2023.

Is Turkey-Egypt rapprochement turning into a long-term defense partnership?

Rapidly improving defense cooperation between Cario and Ankara falls in line with Turkey's multidimensional strategic outlook, observes believe.

Turkey’s Central Bank delivers moderate rate hike

The bank said it has slowed the pace of monetary tightening, assessing that it is close to the level required to establish a course of disinflation.

Turkey's Erdogan declares 'new era' with Greece on landmark visit

The Turkish and Greek leaders vowed to maintain good neighborly relations in the interest of peace in the Agean Sea region.

ADEM ALTAN/AFP via Getty Images

What is behind Turkey’s inflation spike to 61.9% in November?

November's consumer prices also rose by 3.28%, data released by the Turkish Statistical Institute showed on Monday.

Gaye Erkan

Breaking | Last Updated: November 23, 2023, 10:50 am

Turkey’s Central Bank delivers larger-than-expected rate hike

The decision comes after Turkish President Recep Tayyip Erdogan said earlier this week that the lira's depreciation has come to an end.

Turkish Treasury and Finance Minister Mehmet Simsek (C) addresses a statement to the journalists at the party's group meeting at the Turkish Grand National Assembly (TBMM) on June 21, 2023. (Photo by Adem ALTAN / AFP) (Photo by ADEM ALTAN/AFP via Getty Images)

What awaits Turkey's economy as its foreign exchange woes ease?

After the March local polls, Ankara will be free of major domestic political concerns and is expected to enact a stern program to cool the economy and make real progress in fighting inflation.

This photograph taken on June 9, 2023, shows the Central Bank of Turkey, in Ankara.

Turkey reports account surplus amid fiscal policy changes

Turkish bonds may also become more attractive, according to a top bank, as Turkey’s new economic leaders raise interest rates and end unpopular policies.

Erdogan

What is driving Turkey’s Erdogan pro-Hamas, fiery Israel criticism?

Diplomats and experts say Erdogan’s response to Hamas’ attack on Israel and its aftermath have seriously undermined Turkey’s international position.

One-hundred Turkish lira notes on display at a currency exchange in Kuwait City, August 12, 2018.

Turkey’s inflation slightly eases in October, remains above 60%

Following three months of increases, Turkey’s year-on-year inflation slightly eased last month.

Burak Kara/Getty Images

Turkey raises year-end inflation forecast to 65%, amid economic headwinds

The projection has been raised from 58% in July due to weakening global economic activity and oil volatility.

A teller holds Turkish lira banknotes at a currency exchange office, Istanbul, Aug. 13, 2018.

Turkey’s Central Bank hikes interest rates to 35%

The bank cited geopolitical risks for the move along with a larger than expected increase in inflation in the third quarter.