Türkiye and World Bank sign $1 billion energy cooperation agreement
Türkiye and the World Bank signed an agreement on cooperation in the energy sector. It is aimed at expanding the use of renewable energy sources.
Turkish economy
Türkiye to fine for excessive price increases
The Turkish authorities intend to introduce fines for entrepreneurs artificially inflating prices. The fine could be over $31 thousand.
Türkiye considers ban on chicken meat export
The Turkish authorities intend to introduce a ban on the export of chicken meat due to an increase in the price of this type of meat
Turkish Central Bank decides to keep rate at 50%
Today the interest rate in the republic is 50%. 22 years ago was the last time, when it was above the current level.
Russians lead in number of property purchases in Türkiye in March
Russian citizens ranked first in the list of the most active real estate buyers in Türkiye. Last month, Russians purchased more than 400 residential properties.
Turkey’s central bank raises interest rate to 50%
Turkey’s central bank raised its key interest rate, the one-week repo rate, from 45% to 50%, the bank's press service reported, citing the continuing need to counter climbing inflation in the country. …
Renting housing in Türkiye may rise sharply from July 1
In the summer, Türkiye will abandon the current restriction on increasing the cost of renting apartments. Now, the owner of the property can raise the rent by no more than 25%. Lifting the restriction could increase apartment rental prices in Türkiye.
Turkish Central Bank stops raising key rate
The Turkish Central Bank has not risen the key rate for the first time in 8 months. It is currently at around 45%.
Türkiye sees historic drop in unemployment
Last year, Turkish unemployment rate fell to an 11-year low, reaching a historic low of 8.8%. Among the male population, this rate is even lower. It is 7.2%.
Türkiye intends to welcome 60 mln tourists and earn $60 bln
The head of Türkiye announced plans for the development of tourism in the country this year
Inflation in Türkiye reaches record 65% in 14 months
Prices for consumer goods and services in Türkiye have risen to record levels over the past 14 months. Over the year, inflation amounted to almost 65%.
Azerbaijan and Türkiye increase mutual trade volumes by 31%
Azerbaijan and Türkiye are strengthening the development of mutual trade. Last year, the countries achieved a record trade turnover and increased volumes by almost $2 billion.
Turkish banks to use 'inflation accounting'
Turkey's banks and other financial institutions will have to wait until 2025 to apply inflation-adjusted accounting to their balance sheets, the BDDK banking watchdog said. "It has been decided that banks, …
Turkish lira hits new record low
The Turkish lira hit a fresh record low against the U.S. dollar on January 11, trading at 30.005 to the greenback just before noon local …
Azerbaijan and Türkiye increasing trade turnover
Türkiye is Azerbaijan's second-largest economic partner, with a mutual trade transaction of $7.2 billion in January-November 2023, Azerbaijani …
Turkish inflation quickens to highest level in 2023
Turkey’s consumer inflation accelerated to its highest level this year as household energy use exceeded state support for natural gas consumption. Prices rose an annual 62% through November. Monthly inflation was 3.28%, …
Turkish exports sets new October high
Türkiye registered the highest monthly exports ever in October, official data showed Monday, while its trade deficit decreased by 15% on a monthly basis. "In October, our exports increased by 7.4% compared to the same month of …
Turkey raises inflation forecasts, sees 65%
Türkiye's Central Bank revised its year-end inflation forecast upwards for 2023 and 2024 while cutting it for 2025. The annual consumer inflation is foreseen to come in at 65% this year, up from 58% the previous forecast, …
Central Bank of Türkiye raises policy rate once again
At today's meeting of the Turkish Central Bank, the rate was raised to 35%. At the September meeting, the regulator increased it to 30%.
Turkish central bank lifts its interest rate by 500 points
Türkiye's Central Bank hiked its key interest rate to 30% on Thursday, a 500-basis point jump from 25%. The Turkish lira weakened slightly to 27.06 against the dollar on the news, with the greenback up …
