Turkish economy

How Syrian refugees contributed to Turkish economy

Syrians have established nearly 14,000 companies in Turkey.

Mohammed Hardan | Syria | May 11, 2021

Amer Hadri, founder of the Zirve food machinery maker, stands in Gaziantep in southwestern Turkey on May 2, 2018. Hundreds of Syrian businesses are thriving in Gaziantep, home to around half a million Syrians who fled the civil war south of the border, in a boost both for the displaced community and their host country.

Erdogan’s reset with Egypt and the Gulf won’t be smooth

The Turkish president wants a change in relations, but his efforts are seen as the result of a failed regional strategy and poor ties with the Biden administration.

Week in Review | Turkey | May 8, 2021

Turkish Central Bank keeps interest rates high as inflation weighs on economy

Cornered by rising inflation and a weakening currency, Turkey’s Central Bank kept its benchmark interest rate steady at 19% on May 6 as policymakers await positive signals.

Diego Cupolo | Turkey | May 6, 2021

Women sit next to an exchange office at Laleli in Istanbul, Turkey, March 22, 2021.

Reeling from COVID-19 slump, Turkey's demographic challenges loom large

As part of his nationalistic agenda, Turkish President Recep Tayyip Erdogan has been encouraging families to have at least three children, but soaring brain drain and falling birth rates stand as major predicaments in front of his ambitions.

Michal Kranz | Turkey | Apr 30, 2021

Protesters move away as Turkish police officers intervene during a demonstration in support of Bogazici University students, at Kadikoy in Istanbul, Turkey, April 1, 2021.

Turkish health experts, workers call for social support ahead of 17-day Covid lockdown

As Turkey prepares for a 17-day lockdown to stem a surge in COVID-19 cases, health experts and workers’ unions urge more financial support for citizens most impacted by pandemic restrictions.

Diego Cupolo | Turkey | Apr 27, 2021

An employee of Dilo bar starts cleaning the rooftop terrace bar, which has been closed for 340 days due to coronavirus restrictions, in the Kadikoy district on Feb. 22, 2021 in Istanbul, Turkey.

Turkey’s tourism sector fears another disastrous year

Apprehension is growing in Turkey that its tourism sector, a vital hard-currency earner, might fail to recuperate in 2021 amid a new peak in the coronavirus pandemic.

Mustafa Sonmez | Turkey | Apr 21, 2021

A sign reads "Social distance 1.5m" next to the pool of a hotel on June 19, 2020, at Lara district in Antalya, a popular holiday resort in southern Turkey. The novel coronavirus pandemic has hit Turkey's tourism industry, the backbone of the country's economy.

China looms large in Turkey’s controversial waterway project

Turkey is reportedly gearing up to partner with China in the construction of an artificial waterway parallel to the Bosporus, a project with likely implications for Russia and the United States in the Black Sea.

Fehim Tastekin | Turkey | Apr 12, 2021

Turkish President Recep Tayyip Erdogan (back-L) and Chinese President Xi Jinping (back-R) attend a signing ceremony ahead of the Belt and Road Forum in Beijing on May 13, 2017.

Why Turkey is wooing Egypt

How will improved relations between Cairo and Ankara boost bilateral trade and joint investment? A number of Egyptian businesspeople are keeping fingers crossed that easing tensions between the two Mediterranean countries will open up new opportunities.

Ahmed Elleithy | Egypt | Apr 3, 2021

President of Turkey, Recep Tayyip Erdogan gestures as he gives a press conference after the cabinet meeting at the Presidential Complex in Ankara, Turkey, on Sept. 21, 2020.

Crisis-hit Turkey risks disastrous foreign investor flight

Erdogan’s interference with the central bank is badly damaging foreign investor confidence in Turkey, threatening hard-currency crunches that could send the Turkish lira to new lows.

Mustafa Sonmez | Turkey | Mar 31, 2021

Turkish lira volatile after central bank deputy head removed

Ten days after his appointment, Turkish central bank governor Sahap Kavcioglu sought to rebuild confidence in Turkey’s markets Tuesday following another shake-up in the bank’s top managers.

Diego Cupolo | Turkey | Mar 30, 2021

Did Erdogan commit economic suicide by sacking central bank chief?

The predicaments of Turkey’s cash-strapped central bank augur a highly challenging period for Erdogan while reducing the visibility range in Turkey’s economy to almost zero.

Mustafa Sonmez | Turkey | Mar 25, 2021

People walk past a currency exchange board on March 22, 2021, in Istanbul, Turkey. Turkey's lira plummeted as much as 15% to hit 8.39 per US dollar in the first day of trading after Turkey's President Recep Tayyip Erdogan replaced central bank governor Naci Agbal, triggering fears of another currency crisis.

Turkish markets rattled after surprise firing of central bank head

Turkey’s lira and main stock index slid about 9% Monday as markets reacted to the surprise removal of the nation’s central bank chief amid broader political turmoil.

Diego Cupolo | Turkey | Mar 22, 2021

Traders work at their desks on the floor of the Borsa Istanbul in Istanbul on May 22, 2018. - Turkey's embattled currency, the lira, has hit new historic lows against the US dollar after Fitch ratings agency expressed concerns over the central bank's independence in the wake of comments by President Recep Tayyip Erdogan. (Photo by OZAN KOSE / AFP)

Turkey lifts veil on unemployment data, revealing bigger army of jobless

A new, broader set of labor statistics has exposed a big gap between Turkey’s official unemployment rate and the actual joblessness in the crisis-hit country.

Mustafa Sonmez | Turkey | Mar 16, 2021

Pandemic, domestic woes dim Istanbul’s economic luster

Istanbul’s economy is estimated to have shrunk about 3% last year, even as Turkey’s gross domestic product grew 1.8%.

Mustafa Sonmez | Turkey | Mar 10, 2021

Turkish inflation rises, raising expectations of further rate hikes

Turkey’s inflation rate rose to 15.61% in February, marking the fifth month of consecutive increases and raising expectations for the central bank to introduce further rate hikes.

Diego Cupolo | Turkey | Mar 3, 2021

Turkish economy

How Syrian refugees contributed to Turkish economy

Syrians have established nearly 14,000 companies in Turkey.

Erdogan’s reset with Egypt and the Gulf won’t be smooth

Turkish Central Bank keeps interest rates high as inflation weighs on economy

Reeling from COVID-19 slump, Turkey's demographic challenges loom large

Turkish health experts, workers call for social support ahead of 17-day Covid lockdown

Turkey’s tourism sector fears another disastrous year

China looms large in Turkey’s controversial waterway project

Why Turkey is wooing Egypt

Crisis-hit Turkey risks disastrous foreign investor flight

Turkish lira volatile after central bank deputy head removed

Did Erdogan commit economic suicide by sacking central bank chief?

Turkish markets rattled after surprise firing of central bank head

Turkey lifts veil on unemployment data, revealing bigger army of jobless

Pandemic, domestic woes dim Istanbul’s economic luster

Turkish inflation rises, raising expectations of further rate hikes

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