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Turkey to remain 4th most miserable country in 2019 with slight deterioration expected: Bloomberg index

According to Bloomberg’s misery index, covering 62 economies, Turkey will remain the fourth most miserable country in the world in 2019, with the situation expected to...
Business

Home sales secured by mortgages in Turkey down 30 percent in March: TurkStat

The Turkish Statistical Institute (TurkStat) has announced that houses financed by mortgages declined in March by 30.6 percent year-on-year, the Diken news website reported on Wednesday. The share of...
Business

Turkey’s quarterly budget deficit reaches half its total amount in 2018

Budget statistics announced by the Ministry of Treasury and Finance have revealed that Turkey’s budget deficit in the first three months of 2019 stood at TL...
Business

Prominent economist claims Turkey’s real inflation much higher than statistical authority says

Steve Hanke, a professor of applied economics at John Hopkins University and former senior economist with a Reagan White House advisory council, has claimed that Turkey’s real...
Business

Turkey’s unemployment rate climbs to a decade-high at 14.7 percent

Turkey’s unemployment rate surged to 14.7 percent in the December-February period, its highest level in nearly a decade according to official data on Monday, as the...
Business

Turkey’s economy to contract in 2019, longer recession looms: poll

Turkey's economy is expected to contract in 2019 after a decade of strong growth, and economists are predicting a longer recession ahead after a recent bout...
Business

Turkey’s finance minister fails convince global investors: report

Turkish Finance Minister Berat Albayrak offered little convincing detail of his economic turnaround plan and failed to enthuse investors at a private meeting in Washington on...
Business

Albayrak unveils reform plan: boost banks’ capital, adjust taxes

Turkish Finance Minister Berat Albayrak said on Wednesday the government would boost banks’ capital and valuable exports and adjust taxes as part of a reform plan...
Business

Turkish economy to shrink 2.5 percent in 2019: IMF

The International Monetary Fund (IMF) has released its World Economic Outlook (WEO) report for April 2019 in which it forecast that the Turkish economy would contract 2.5...
Business

Turkey starts imposing VAT on Facebook ads

The Turkish government has begun imposing Value Added Tax (VAT) on Facebook ads, the Bloomberg HT news website reported on Monday. The practice entered into force as of...
Business

Honda to halt car production in Turkey in 2021: report

Honda has decided to end car production in Turkey following completion of the production of its current Civic Sedan model in 2021, the company said in...
Business

Turkey extends suspension of tariffs on onions as prices move upward again

A presidential decree issued on Sunday extended the suspension of tariffs on onion imports one more month, until the end of April, as onion prices have...
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