Economy and Finance
168 articles
Economy and Finance
EARLY INVESTORS PREPARE TO EXIT TOGG
Conglomerates Vestel Elektronik and Anadolu Group are in advanced negotiations to sell their stakes in Turkey’s first domestic electric vehicle manufacturer TOGG.
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INFLATION REMAINS ABOVE 30% FOR 57TH MONTH AS PAST TARGETS FALL SHORT
Annual consumer inflation in Turkey remained above 30% for the 57th consecutive month in August. Official figures from TurkStat put August inflation at 31.5%, slightly slower than 31.75% in July.
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FX-PROTECTED DEPOSIT SCHEME ENDS
The Foreign Exchange-Protected Deposit scheme, known as KKM, has come to a complete end after total balances in the accounts dropped to zero, according to weekly data from the Banking Regulation and Supervision Agency (BDDK).
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GOVERNMENT CONSIDERS 10% TAX ON CORPORATE MONEY MARKET FUNDS
The Finance Ministry has finalized preliminary work to redirect short-term capital inflows toward long-term, productive investments, according to a report by Bloomberg HT.
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EXPORTERS TARGET $10 BILLION TRADE VOLUME WITH SYRIA
Turkish business leaders aim to grow trade with Syria to $10 billion a year and take part in the country's reconstruction after years of conflict.
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UKRAINE-RUSSIA WAR COULD COST TURKEY $20 BILLION IN THREE MONTHS
Maritime trade in the Black Sea has come to a near halt due to Russian and Ukrainian strikes, creating a major economic threat for Turkey, according to a shipping executive.
Economy and Finance
CENTRAL BANK RESUMES REPO AUCTIONS, DE FACTO RATE CUT
The central bank has resumed one-week repo auctions after a nearly six-month pause, an operational shift that effectively lowers market funding costs and paves the way for official policy rate cuts.
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OVERSEAS CONSTRUCTION PROJECTS DROP SHARPLY
The contracts of construction firms abroad fell by more than half in the first six months of 2026.
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TREASURY PAYS RECORD RATES IN BACK-TO-BACK BOND AUCTIONS
Turkey has become the world's most expensive borrower in local currency, agreeing to pay interest rates exceeding 41% during back-to-back domestic bond auctions this week.
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BIG MAC INDEX SUGGESTS LIRA IS SEVERELY OVERVALUED
Former Treasury Undersecretary and prominent economist Mahfi Eğilmez calculated that the fair value of the US dollar should be 65 liras based on the Big Mac Index, far above the market exchange rate of 47.50 liras and warned that the holding the exchange rate below its fair value inflates the country's GDP and per capita income figures on paper without making Turks any richer.
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NEW BILL TO CLEAR PATH FOR BOOKING.COM RETURN AFTER 9-YEAR BAN
A new legislative proposal submitted by ruling party AKP lawmakers aims to allow foreign online travel agencies, including Booking.com, to return to the Turkish market under a structured legal framework after nearly nine years of suspension.
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GOVERNMENT CUTS DIESEL TAXES TO LOWER FUEL PRICES AND COMBAT INFLATION
The Turkish government has temporarily eliminated the special consumption tax on diesel fuel for the remainder of August in an effort to curb inflation. Pump prices fell by more than 13 percent a day after the government’s decision on Aug. 12.