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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...
Business

Turkey’s Energy Ministry has overseas companies in tax havens: report

The Directorate for Strategy Development of Turkey’s Ministry of Energy and Natural Resources has revealed in a written answer to a parliamentary question that...
Business

Turkey sees surge in current account deficit, fall in employment levels: report

Turkey’s current account deficit leapt to $4.06 billion in November, central bank data showed on Monday, exceeding a poll forecast of $3.7 billion as...
Business

Erdoğan’s earns 31 times more than a minimum wage worker

Turkish President and Justice and Development Party (AKP) leader Recep Tayyip ErdoÄŸan has an annual salary 31 times higher than that of a minimum...
Business

Turkish inflation higher than expected at 14.6 percent in December: report

Turkish annual inflation rose more than expected to 14.6 percent in December as food costs jumped, official data showed on Monday, keeping pressure on...
Business

Turkey sets lowest minimum wage in 11 years for its workers in 2021

Turkey's labor minister on Monday announced the net minimum wage for 2021 at TL 2,826 ($377), the lowest figure in in US dollars for...
Business

Report reveals Turkey’s minimum wage workers unable to meet basic needs

A report by the Research Center of the United Metal Workers’ Union (BISAM) has revealed that a minimum wage worker in Turkey is expected...
Business

Turkey posts yet another current account deficit in October

Turkey’s current account remained in deficit for the 11th month in a row amid a deteriorating trade balance, Bloomberg reported. The gap in Turkey’s current-account...
Business

Turkey sees wholesale exit of private assets overseas, says opposition MP

An opposition lawmaker has announced that Turkey saw the biggest decline in private wealth in the world, with a total of 17,100 individuals having...
Business

Thousands of businesses in Ä°stanbul, Ankara halt operations amid COVID-19

A total of 20,000 businesses in Ä°stanbul and 15,000 in the Turkish capital city of Ankara have had to halt operations, some permanently, due...
Business

Turkey’s unemployment slightly down in September, standing at 12.7 percent

Turkey's unemployment rate fell by 1.1 percentage points year-on-year to 12.7 percent in September, the Turkish Statistical Institute (TurkStat) announced on Thursday. The country’s unemployment...
Business

Foreign airlines halting flights to Ä°stanbul due to high airport charges

Already challenged by the serious financial problems caused by the coronavirus pandemic, some foreign airlines are halting their flights to Ä°stanbul due to the...
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