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Turkey’s current account swung to $2.68 billion deficit in November

Turkey's current account recorded a deficit of $2.68 billion in November as expected, official data showed on Tuesday, flipping into the red after three...
Business

Turkish unemployment unchanged at 11.2 percent in November: TurkStat

Turkey's unemployment rate stood at 11.2 percent in November, unchanged from a month earlier, while a seasonally adjusted measure of labor underutilization fell 0.7...
Business

Turkey’s finance minister says they are pursuing unorthodox policies

The Turkish government has dispensed with orthodox policies and is now pursuing unorthodox ones, Turkey’s finance minister told a business group on Wednesday, the...
Business

Turkish Central Bank’s one-day $10 bln profit sparks questions

Turkey’s central bank posting an unexpected one-day profit of nearly $10 billion at the end of 2021 has left many economists wondering what caused...
Business

Turkey orders exporters to convert 25 percent of income to liras: report

Turkey will require exporters to convert a quarter of their revenue to liras, the latest step in the government’s efforts to boost its reserves...
Business

The costs of Erdoğan’s fight for Turkey’s ‘economic independence’

Turkey's consumer prices have soared by the highest rate since 2002, further undermining President Recep Tayyip Erdoğan 's unorthodox battle for his developing country's...
Business

Saudi Arabian exports to Turkey hit record high amid boycott of Turkish goods

Turkey’s imports from Saudi Arabia rose to $3 billion in the first 11 months of 2021, while exports to the country decreased to $189...
Business

Turks’ confidence in AKP economic policies declined in 2021: poll

More than 75 percent of Turks have said their confidence in the ruling Justice and Development Party (AKP)’s economic policies has decreased over the...
Business

Turkish inflation hits 19-year high in December

Turkey's annual inflation rate surged to its highest level since 2002 in December, official data showed Monday, after a currency crisis sparked by President...
Business

Turkish central bank sold $687 million in Dec. 10 market intervention

Turkey's central bank said on Friday it sold $687 million during its direct market intervention on Dec. 10 to support the ailing lira, bringing...
Business

Economic confidence in Turkey drops to lowest level in 7 months

Turkey’s economic confidence index tumbled 1.8 percent month-on-month in December to 97.6 points, the lowest figure since May, data from the Turkish Statistical Institute...
Business

Turkish lira crisis turns political with lawsuit threat

Turkey's currency crisis turned increasingly political on Thursday after a top minister urged citizens to sue economists who commented on social media about the...
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