Turkey hikes interest rate to 46% amid turmoil over Imamoglu’s arrest The rate hike marks the first since March 2024, amid growing economic turmoil following the arrest of Istanbul Mayor Ekrem Imamoglu. Turkey
Turkey's budget deficit narrows to $6.8B in March as lira fluctuates The data was released as Turkey has been facing economic turmoil and currency volatility. Turkey
Turkey's Simsek says economy will ride out Trump tariffs without lasting scars Mehmet Simsek stressed that his government’s economic program has made the economy more resilient against internal and external shocks, highlighting that inflation has fallen and continues to drop. Turkey
Top US senator: No F-35 jets for Turkey until Russia's S-400 missiles 'gone' Republican Sen. Jim Risch made the statement during the nomination hearing for Tom Barrack to be the next US ambassador to Turkey. Barrack emphasized Ankara's strategic role in countering Iran in the region and promoting stability in Syria. Turkey
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. Turkey
Turkey's annual inflation rate nears 60% in August Turkey’s economy minister says the country’s struggle with runaway inflation will take time. Turkey
Analysis Greece-Turkey ties on upswing as FM set to visit, Cyprus tensions subside Turkey tries to dial down confrontations in the eastern Mediterranean before the Greek minister's visit as part of its push to improve relations with the West. By Ezgi Akin In Ankara, reporting on diplomacy, EU-Turkey ties, NATO
In Russia, Turkey's Erdogan seeks better ties with Putin, but distrust lingers The Turkish president wants to enhance his prestige by brokering a new grain deal but faces an uphill battle, with increasing distrust from Moscow over Ankara's ties with Ukraine, and posture inside NATO. Turkey
UAE’s non-oil trade hits record $340B in first half of 2023 Trade is set to increase after the BRICS bloc of major developing economies announced last week that the United Arab Emirates was among the list of countries invited to join the group. United Arab Emirates
Turkey ends lira protection scheme as banks tally up damage With Turkey’s inflation on course to hit 70% by the year-end, the plan to convince depositors to shift to regular deposits with yields well below the inflation rate appears unviable. Turkey
Turkey’s Central Bank shifts gears, hikes interest rates to 25% The 750 basis point rise was higher than analysts' expectations, prompting lira to rebound from a record low. Turkey
Moody’s upgrades outlook for Turkish banks amid economic U-turn The US-based rating agency projected Turkey's economic growth to be 4.2% at the end of 2023, falling from 2022’s 5.6%. Turkey
Why Turkey's Erdogan sings the same tune with Russia's Putin in Africa Turkey’s efforts to expand its influence in Africa often align with those of Russia, with both Ankara and Moscow holding back from condemning military coups and seeking to capitalize on post-colonial resentments. Turkey
Why did Turkey restrict gold imports as it rolled new economic measures? Observers believe Turkey’s new economic leadership is unlikely to take strong measures to curb inflation before Erdogan gets through local elections in March 2024. Turkey
Analysis After Saudi drone deal, Turkey’s defense industry eyes record export year Turkey’s military exports could hit a record $7.5 billion this year after a major deal with Saudi Arabia. By Eray Gorgulu
Turkey logs $674M account surplus, breaking 20 month deficit Turkey posted a current account surplus in June for the first time since October 2021. Turkey
