Turkish economy

Economy

Turkey inflation falls for eighth month in a row as food prices dip

Falling housing and electricity prices also contributed to January's slowing inflation rate, as did a drop in recreation and culture prices.

03/02/2025

Economy

Turkish economic prospects show signs of improvement in December

The Turkish economic confidence figures for this month pointed towards a brightening outlook for the country's economy, boosted mainly by a growth in confidence among retailers and service providers.

30/12/2024

Economy

Turkey inflation dips for sixth month in a row as utility prices drop

Turkish inflation eased for the sixth consecutive month in November. However, it was still higher than analysts expected, leading to concerns that Turkey's Central Bank might delay cutting interest rates.

03/12/2024

Economy

Prospects brighten as Turkey taken off money laundering 'grey list'

In a landmark move, Turkey has now been taken off the Financial Action Task Force (FATF)’s "grey list", a decision which is expected to go a long way in supporting the country's economic recovery.

01/07/2024

World News

Turkey's opposition make huge gains in local elections

Erdogan acknowledged the electoral setback in a speech, saying his party had suffered “a loss of altitude” across Turkey.

01/04/2024

Economy

Turkey inflation for January climbs as housing and utility prices rise

Turkey's inflation figures for January continued to climb as prices for housing and utility services rose further.

05/02/2024

Economy

Turkey’s central bank hikes key interest rate to 45% to curb inflation

This hike is the latest move to control soaring inflation, which has left several households unable to afford basic necessities.

25/01/2024

Economy

Here's why businesses in Turkey are more optimistic about inflation

Following months of sky-high inflation, Turkey’s January Business Confidence report points towards a slowly improving situation.

25/01/2024

Economy

Turkey inflation soars to over one-year high at 64.8%

Turkey’s inflation jumped to its highest level since November 2022, driven by higher housing and utilities prices

03/01/2024

Economy

Turkey pushes interest rates up to highest level since 2003

The central bank said that rocketing inflation was above expectations in the past couple of months and that to combat the trend, more interest rate hikes are likely.

21/09/2023

Economy

Erdoğan now backs plan that includes raising interest rates: minister

Inflation in Turkey is running at nearly 60%, according to official figures, although independent economists say the real rate is much higher.

07/09/2023

Economy

Inflation in Turkey jumps to 59%

Inflation reached 58.9% year-on-year in August in the country, the highest since December 2022, according to official data published on Monday.

04/09/2023

Turkey

Turkish President Erdoğan hints he is seeking office for last time

Turkey's president has presided over a period of economic turmoil, with runaway inflation and a collapsing currency denting his popularity.

10/12/2022

Turkey

'Everything is overheating': Why is Turkey's economy in such a mess?

Runaway inflation and the collapse of the lira has pushed millions of Turks to the brink of financial ruin. But what went wrong with Turkey's economy?

09/11/2022

Turkey

Annual inflation in Turkey reaches record 25-year high of 85.5%

Turkish President Recep Tayyip Erdogan believes that high-interest rates encourage inflation and lead to higher prices.

03/11/2022

Money

Inflation in Turkey tops 83% as Erdogan vows more rate cuts

While most Western countries are in the process of raising interest rates to keep inflation in check, Turkey is doing the exact opposite.

03/10/2022

Turkey

Turkey's tourism industry struggles as Russian visitors face sanctions

The Mediterranean country's economy relies heavily on foreign visitors, with 2.2 million Russian tourists entering the country in the first seven months of 2022.

16/09/2022

Turkey

Turkey lowers interest rates as inflation hits 80 percent

In a statement following a monetary policy committee meeting, the country's national bank said it decided to reduce the policy rate from 14% to 13%.

18/08/2022

Turkey

Turkey cuts power to opposition leader’s home after protest

Kemal Kilicdaroglu vowed not to pay his electricity bills until the Turkish government withdrew the price increases.

21/04/2022

Turkey

Thousands in poverty protest in Turkey as lira hits record lows

Turkey's net monthly minimum wage of 2,825 lira amounted to €337 in January 2021. Last Wednesday it was the equivalent of €197.

13/12/2021