Turkish economy

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Turkey: Central Bank keeps interest rates steady

Turkey: Central Bank keeps interest rates steady

The Turkish Central Bank on Thursday kept its one-week repo rate – also known as the policy rate – constant at 8.25%, holding it unchanged for the third straight month, Anadolu agency reports. The decision was announced in a …

Turkey’s mining industry sets sights on $5B export goal

Turkey’s mining industry sets sights on $5B export goal

Turkey's mining industry aims to reach $5 billion in exports this year via digital marketing and other technical tools, according to Aydın Dinçer, head of the Istanbul Mineral Exporters' Association (İMİB), Daily Sabah reports. …

Erdogan calls on to dump dollars and use lira

Erdogan calls on to dump dollars and use lira

Turkish President Recep Tayyip Erdogan called on citizens to use the Turkish lira instead of the U.S. dollar in transactions. “Leave the dollar and the rest. Let’s turn to our money, the Turkish lira. …

IMF raises Turkey growth forecast

IMF raises Turkey growth forecast

The IMF sharply increased its forecast for Turkey’s economic growth this year but warned the prospects of a sustainable recovery from last year’s currency crisis have dimmed. In a concluding statement published after an …

Azerbaijan and Turkey increase trade turnover

Azerbaijan and Turkey increase trade turnover

In June 2019, the trade turnover between Turkey and Azerbaijan increased by $644.300 million, compared to June 2018, and amounted to $789.259 million, a source in the Ministry of Commerce of Turkey said. "In June 2019, …

Moody's downgrades Turkey rating to B1

Moody's downgrades Turkey rating to B1

Moody's Investors Service cut Turkey’s sovereign credit rating to B1 from Ba3 and maintained a negative outlook, the rating company said in a statement. The agency noted that the risk of a balance of payments crisis …

Erdogan unveils Turkey's second 100-day action plan

Erdogan unveils Turkey's second 100-day action plan

Turkish President Recep Tayyip Erdogan unveiled the second 100-day action plan of Turkey's new presidential Cabinet at the presidential palace in Ankara. 'Turkey has completed 340 of the 400 projects from the …