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

ADEM ALTAN/AFP via Getty Images

Turkey's finance chief Simsek embarks on third Gulf trip

The Turkish finance minister's new Gulf tour marks his third trip to the region as Ankara ramps its efforts to attract foreign funds.

Turkish train

UK, Turkey in talks about third railway project

The project follows the UK government underwriting financing in July to support the construction of a 286-kilometer high-speed electric railway in southern Turkey.

People shop at a local street market, Istanbul, Turkey, May 3, 2023.

Turkey’s annual inflation exceeds 61% in September

Month-on-month consumer prices slightly eased to 4.75% in September, down from 9.09% in August.

People walk past a currency exchange shop on June 23, 2023 in Istanbul, Turkey. The Turkish Lira weakened to a record low of 25.74 against the dollar, a day after the central bank hiked interest rates from 8.5 percent to 15 percent in the first rate decision since the appointment of new central bank governor Hafize Gaye Erkan and the re-election of President Recep Tayyip Erdogan last month. (Photo by Chris McGrath/Getty Images)

Turkey's lira makes a comeback amid economic U-turn: Goldman Sachs

Foreign investors are beginning to return to the Turkish economy after Erdogan's new government reversed the previous unorthodox policies in June.

Chris McGrath/Getty Images

Breaking | Last Updated: September 21, 2023, 2:07 pm

Turkey’s Central Bank hikes interest rates to 30%

The bank cited higher-than-expected inflation rates and rising oil prices for the hike.

Chris McGrath/Getty Images

Turkey’s central bank mulls giant interest rate hike up to 10% to fight inflation

Alarmed by resurging price increases, central bank officials reportedly believe that a rate hike of up to 10 percentage points is an inevitable part of monetary tightening to tackle inflation.

Russia Turkey Ukraine

Which 5 Turkey-based firms did US sanction for aiding Russia in Ukraine?

US officials have repeatedly pressed Turkish counterparts to address the flow of funds to Russia amid the war in Ukraine.

Turkey inflation

Can Turkey’s new economic plan restore foreign investor confidence?

Eager to regain Istanbul and other major cities from the opposition, Erdogan is expected to turn to populist policies again ahead of local elections next spring.

A seller of Turkish national flags walks at Mahmutpasa district, one of Istanbul's biggest textile shopping centre, near Grand Bazaar, on Dec. 2, 2021.

Analysis

Are we seeing the start of Turkey’s economic turnaround?

Israeli right’s political chokehold on Netanyahu; will BRICS challenge the dollar?; Al-Monitor, Semafor launch first Middle East Global Summit in New York during UN General Assembly.

Week in Review

Andrew Parasiliti

By Week in Review , Andrew Parasiliti

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

World Bank official says Turkey's economic U-turn 'step in right direction’

The comments from the institution’s Turkey director follow the Turkish government finally raising interest rates to battle inflation. But the Turkish economy is still struggling.

Turkish Foreign Minister Hakan Fidan meets with his Greek counterpart Giorgos Gerapetritis in Ankara, Sept. 5, 2023.

Turkey, Greece announce 3-point plan ahead of Erdogan-Mitsotakis meeting

The top Greek and Turkish diplomats also reiterated a plan to revive confidence-building talks between the two countries' armies but didn't release a date.

A customer buys US dollars in exchange for Turkish lira at an exchange office, Ankara, Turkey, July 20, 2023.

Turkey's annual inflation rate nears 60% in August

Turkey’s economy minister says the country’s struggle with runaway inflation will take time.