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Moody’s warns Turkey over vulnerabilities stemming from forex reserves

Turkey’s foreign exchange reserves have fallen to a fresh 2019 low once short term borrowing is stripped out, new data showed on Thursday, as Moody’s issued...

Turkey’s public spending increases by 30 percent during election period

Public spending in Turkey in the first four months of 2019, which corresponds to the campaign period for the March 31 local elections, increased by 30...

Turkey to bring back tax on all forex transactions

According to a new presidential decree published in the Official Gazette on Wednesday, the Turkish government is poised to collect tax on foreign exchange transactions, the Artı...

Unemployment in Turkey remains at peak levels

The Turkish Statistical Institute (TurkStat) has released the February unemployment figures, which remained at the peak level of 14.7 percent recorded in January, the Evrensel daily reported...

Goldman Sachs lowers expectations for Turkey’s contraction in 2019

Goldman Sachs, a global investment bank and financial services company, has lowered its expectations for the Turkish economy’s contraction at yearend 2019 from 1.5 percent to...

Turkey planning to tap $6.6 billion from central bank reserves: report

Turkey’s Treasury ministry is working on legislation to transfer the central bank’s 40 billion lira ($6.6 billion) in legal reserves to the government’s budget to shore...

Turkish economy will prosper with employment increase, sharp drop in inflation: minister

Turkey’s economy will prosper since employment levels are expected increase, accompanied by a sharp drop in inflation, Treasury and Finance Minister Berat Albayrak said...

[UPDATE] Turkish state banks sell $4.5 billion dollars to boost lira’s value: report

Turkish state banks sold around $4.5 billion last week, two sources told Reuters, including in a flurry of selling late on Friday, to support...

Turkey’s currency hits 8-month low after decision to hold new İstanbul election

Turkey’s currency weakened beyond 6.24 to the dollar on Thursday, hitting its weakest level in eight months amid concerns over the re-run of İstanbul’s mayoral election...

Re-run of İstanbul election could delay Turkey’s economic reforms: report

Turkey’s long road to economic reform may have grown bumpier this week when authorities ordered a re-run of an İstanbul city election, further testing the patience...

Turkish financial markets tumble after announcement of new Ä°stanbul election

Turkish financial markets tumbled on Tuesday after the elections board ruled to scrap and re-run the Ä°stanbul election, with the lira down 1.3 percent to its...

‘Turkish lira millionaires’ increased by nearly 13,000 in Q1: report

The number of deposit holders with at least 1 million Turkish lira or more in their bank accounts increased by 12,777 in the first quarter of...

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