The Turkish economy rebounded strongly after the failed July 15 coup due to strong government intervention. Now the impact is being felt on the wider economy. Many hope that the post election period will bring about lasting economic stability.
Turkey's Central Bank raises late liquidity window interest rates from 13.50 to 16.50 percent.
Turkey introduces short and long term economic packages to boost the market in recent months. Some measures will be taken to increase capital inflow. Officials have good faith for the future of the economy after the elections on June 24.
EU cuts Turkey's pre-accession aid by nearly $124 million. In a bid to downplay the move, Turkish officials have said that the decision is political and the amount is insignificant.
Prime Minister Binali Yildirim is expected to discuss military and economic ties during meeting with US Vice President Mike Pence.
Moody’s, Standard & Poor’s and Fitch — these rating giants, along with multinational financial institutions, downgraded Turkey’s economic outlook. So how did Turkey turn things around?
Turkish Justice Minister Abdulhamit Gul said the employee submitted his request for legal counsel on Wednesday and will meet with his lawyer on Friday.
Turkey's defence budget has increased by nearly 50 percent since January 2017. The numbers come at a time Turkey holds military drills near Iraqi border and deploys more troops to its borders with Syria.
Deputy Prime Minister Mehmet Simsek said the April referendum had added to greater certainty while domestic, foreign demand had grown.
Turkey's expected cabinet reshuffle brought in six new ministers and changed 11 posts. Ministers in defence and justice have also have been changed.
In spite of multiple political and security crises, including an attempted coup last July, Turkey's economy has proven to be more resilient than many predicted. Analysts say reforms put in place in the early 2000s have helped.
Turkey's economy grew five percent for the first quarter of 2017, exceeding expectations.
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