Turkish economy

New cars are seen on the dock of Haydarpasa Port on May 02, 2025 in Istanbul, Turkey.

Turkey's trade deficit falls to lowest level in nearly four years: What to know

Turkey’s trade deficit in August shrank to $4.17 billion, its lowest level in 46 months, Trade Minister Omer Bolat said.

A Tesla Model Y is seen on a Tesla car lot on May 31, 2023 in Austin, Texas.

Turkish Tesla sales soar in August, surpassing European, Japanese rivals

Elon Musk’s EV company sold 8,730 Model Ys in August, jumping 86% compared to July, according to data from Turkey’s Automotive Distributors and Mobility Association.

In this photo illustration, Turkish liras are displayed, on Aug. 27, 2018, in Istanbul, Turkey.

Analysis

Turkey to end costly $60B currency-protection scheme — for now

Ankara could soon close the book on a monetary intervention launched to defend the lira in 2021, the latest pivot back to more conventional economic policies following the country's 2023 presidential election.

Samuel Wendel

By Samuel Wendel

In Washington, DC, reporting on regional business and tech

Turkish soldiers march, including some on horses, during a military parade marking the 102nd anniversary of the Victory Day at Vatan Street in Istanbul on Aug. 30, 2024.

Analysis

Turkey’s military shake-up: Adapting to new threats or political meddling?

A new personnel law reflects growing political influence over military decision-making, raising concerns about the military's meritocracy and autonomy.

Barin Kayaoglu

By Barin Kayaoglu

In Ankara, reporting on geopolitics and national security

Latest News

Turkey’s Fidan to visit Egypt with Libya, Gaza on agenda

Badr Abdelatty

Turkey’s inflation falls to four-year low of 33.5%: What to know

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

Turkey secures $2.8B green financing for Azerbaijan railway: What to know

An export train to Russia and China leaves the Ankara station, on Jan. 29, 2021.

Why Turkey plans to end its 52-year oil pipeline deal with Iraq

Iraqi workers tend to a pipe at the Iraqi-Turkish pipeline in Karkuk, northern Iraq, Dec. 1, 2000.

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.

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.