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Turks increasingly prefer foreign currencies over lira in last 26 weeks: report

Turks held some $115.5 billion in foreign currencies in their bank accounts as of July 5, according to central bank data, indicating a solid 26-week increase...
Business

Number of unemployed in Turkey reaches record high with 4.4 million

The number of unemployed reached an all-time high in June of 4,417,814, according to Turkish Employment Agency (İŞKUR) data released on Thursday, the Diken news website...
Business

Erdoğan says Turkey could face problems if central bank not overhauled: report

President Recep Tayyip Erdoğan said Turkey could face serious problems if its central bank is not completely overhauled after the dismissal of Governor Murat Çetinkaya, Reuters...
Business

Turkey halves economic development targets for 2023: report

Turkey has virtually halved its economic development targets for 2023 in a new five-year development plan released by the presidential strategy and budget office on Monday,...
Business

Economist exposes plagiarism in new Turkish central bank governor’s master’s thesis

Murat Uysal, Turkey’s new central bank governor, became a controversial subject on social media after a Turkish economist on Twitter exposed plagiarism in Uysal’s master’s 2001...
Business

Erdoğan’s AKP proposing changes to Turkish Central Bank legal reserves

Turkish President Tayyip Erdoğan’s Justice and Development Party (AKP) is proposing changes in the central bank’s legal reserve ratios, party official Mehmet Muş said...
Business

Turkey’s currency weakens after Erdoğan fires central bank governor

Turkey’s lira weakened on Monday after President Recep Tayyip Erdoğan dismissed the central bank governor, reigniting concerns about political interference in monetary policy and expectations of...
Business

Erdoğan says central bank governor fired for refusing to cut interest rates: report

In a meeting with his party’s deputies Turkish President Recep Tayyip Erdoğan said he sacked the central bank governor for rejecting the government’s repeated demands for...
Business

Erdoğan sacks central bank governor over policy differences: report

Turkish President Recep Tayyip Erdoğan sacked the governor of the central bank on Saturday as differences between them deepened over the timing of interest rate cuts...
Business

Turkey’s inflation rate hits 12-month low in June

Turkey's annualized rate of inflation stood at 15.72 percent in June, hitting a 12-month low, the statistical authority said on Wednesday, according to a report by...
Business

Turkish auto market halved in first 6 months

Turkey’s automobile market saw a decline of 45 percent in the first half of 2019, the Diken news website reported. The year-on-year contraction in June was 16.4 percent....
Business

Turkey’s foreign trade deficit decreases 77 percent

The Turkish Statistical Institute (TurkStat) on Friday released the country’s provisional foreign trade statistics for May, which point to a year-on-year decrease of 76.5 percent in the...
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