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Turkey’s inflation jumped to 15 percent in January: report

Turkey’s annual inflation rate climbed more than expected to 14.97 percent last month, data showed on Wednesday, driven by energy and food prices and...
Business

Turkey’s foreign deficit grew by 69.1 pct in 2020: TurkStat

Turkey’s foreign trade deficit surged 69.1 percent in 2020, increasing from $29.5 billion to $49.9 billion according to the general trade system, another indicator...
Business

Erdoğan blames shopkeepers for rising food prices, warns of penalties

Turkish President Recep Tayyip Erdoğan holds the country’s shopkeepers responsible for the country's constantly increasing food prices, warning that they may face penalties if...
Business

Turkey’s Wealth Fund debt increased by 81 percent in 2019

Debt accumulated by the Turkey Wealth Fund (TVF) to the banking system increased from TL 75.4 billion ($10.2 billion) in 2018 to TL 136.4...
Business

Amid Turkey’s economic woes, video of father who can afford cooking oil goes viral

Cevheri Güven Sunflower seed oil, a regular item in most Turkish kitchens, has seen a price surge of 40 percent over the past few months....
Business

Qatar’s QTerminals finalizes purchase of Turkish port operator

Port Akdeniz, which owns and operates Port Akdeniz-Antalya, has been sold to Qatari-based QTerminals for $140 million, Turkish media reported on Tuesday. Port Akdeniz was...
Business

Turkey to replace official cars after VW cancels factory plans in country

The Turkish Presidency has ordered ministries to replace Volkswagens used as official cars due to the German automaker’s recent decision to abandon plans to...
Business

IMF sees Turkey growing at 6 percent in 2021: report

Turkey’s economy will grow by about 6 percent in 2021, before settling back to a growth rate of about 3.5 percent annually from 2022,...
Business

Most people in Turkey are in debt amid COVID-19 pandemic, survey reveals

A recent report drafted by the Public Services Employees Union of Turkey (Genel-İş), affiliated with the Confederation of Progressive Trade Unions (DİSK), on the...
Business

Turkey’s state-owned enterprises lost $1.8 billion in 2019: report

Turkey’s state-owned enterprises suffered a loss of TL 13.7 billion ($1.85 billion) in 2019, a 24 percent increase over 2018, according to an audit...
Business

Turkey’s central bank keeps main interest rate at 17 percent

Turkey's central bank on Thursday kept its main interest rate steady at 17 percent after two consecutive hikes aimed at slowing down inflation and...
Business

The real portrait of Turkey’s economy

Turkey’s financial troubles have increased since the country was hit by the COVID-19 pandemic. Contrary to government declarations, a sudden surge in the number...
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