More and more western companies are moving their operations to the country due to the geographical advantages it offers amid challenges posed by global crises, such as the Ukraine conflict.
Turkish central bank’s Monetary Policy Committee says it decided to keep its policy rate constant at 14 percent, putting on hold a rate-cutting policy that has reduced borrowing costs by 5 percentage points since September.
Turkiye's president has announced a $225.4 billion export record for 2021, as the country's annual inflation rate reached 36.08 percent.
President Recep Tayyip Erdogan has said Turkiye launched a historic change in economic policy, putting aside the 'classical understanding' of controlling inflation with high interest rates.
Turkish President Erdogan said the country's move to bring exchange rates to a level that reflects local realities reached its purpose as dollar/lira exchange rate dropped to 12.35.
Turkey’s GDP at current prices increased 52.4 percent to $188.6 billion during April to June, 2021 data shows.
Governor Kavcioglu says Turkey will both make reserves permanent and implement a better system that funds production and exports.
Among the first steps will be strengthening public finance structures to guard against risks, says Turkey’s President Erdogan.
Turkish households and businesses have sold billions of dollars in response to President Erdogan's call to help the economy. But will it stop the lira from losing its value?
Erdogan said Turkey's economy had not 'collapsed' as predicted when the state of emergency was declared in the country
Deputy Prime Minister Mehmet Simsek says the impact of Friday's attempted coup on Turkey's economy will be short-lived and there is no question of implementing any capital controls.
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