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Unemployment in Turkey rose to 13.5 percent in December, says statistics institute

The Turkish Statistics Institute (TurkStat) announced on Friday that unemployment rose  by 3.1 percent in December year-on-year, reaching 13.5 percent countrywide. This percentage corresponds to...
Business

Turkish capital gravitating outward: report

As Turkey’s economic figures were worsening, the outward direct investment (ODI) by Turkish companies in 2018 surged 26 percent to reach nearly $4 billion,...
Business

Turkey’s industrial output slumps 7.3 pct in January

Turkish industrial production plunged 7.3 percent year-on-year in January, a bit better than expected, government data showed on Thursday, marking a fifth consecutive month...
Business

Unemployment rate rises 63 percent in Turkey in one year

The unemployment rate in Turkey has increased by 63 percent since February 2018, with 1.5 million more people joining the ranks of the unemployed,...
Business

Erdoğan says Turkey had ‘negative growth’ in response to economy’s contraction

Turkish President Recep Tayyip Erdoğan claimed on Tuesday that Turkey witnessed “negative growth” in the last quarter of the year as the economy contracted...
Business

Several economists allege TurkStat manipulated exchange rates to inflate GDP

The Turkish Statistics Institute (TurkStat) has deliberately miscalculated forex figures to bloat the country’s gross domestic product (GDP), according to several Turkish economists, the...
Business

Turkey increases weapons exports by 170 percent in last 4 years: report

The Stockholm International Peace Research Institute (SIPRI) reported on Monday that Turkey increased its weapons exports by 170 percent between 2014 and 2018 over...
Business

Turkey sets duty-free import quota of 200,000 tons of potatoes

A Turkish presidential decree has set a duty-free import quota for 200,000 tons of potatoes, the Official Gazette said on Monday, Reuters reported. The presidency...
Business

Turkey’s economy contracts more than 3 pct, showing signs of recession

The Turkish economy contracted a sharper than expected 3.0 percent in the fourth quarter of 2018, its worst performance in nearly a decade and...
Business

Turkish economy to shrink 1.8 percent in 2019: OECD

The Organization for Economic Co-operation and Development (OECD) has revised its 2019 forecast for Turkey’s GDP growth, predicting a sharper downward trend than in...
Business

Turkish central bank keeps interest rates unchanged ahead of election

Turkey’s central bank kept its benchmark interest rate on hold on Wednesday, sticking to a promise to stand firm on inflation even as the...
Business

Turkish economy shrank 2.7 percent in Q4, 2018 growth below forecast: poll

Turkey's economy shrank 2.7 percent in the fourth quarter of 2018, dragging full-year growth down to a below-forecast 2.55 percent, according to a Reuters...
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