INFLATION TOPS FORECASTS AS QUESTIONS RISE OVER ŞİMŞEK’S PROGRAM
Consumer prices rose more than expected in October, ending a four-month decline in annual inflation and prompting questions whether Finance Minister Mehmet Şimşek’s program is working.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
A SLOW-MOTION FINANCIAL CRASH AND WARNINGS TURKEY IGNORED FUELS SPECULATIONS ABOUT ŞİMŞEK
For over a week, a single issue was on Turkey’s agenda: What happened to the money in the funds? Finance Minister Mehmet Şimşek, who had stayed silent on the crisis since it began and faced growing speculation that he would be fired, broke his silence on Sept. 24 to deny that he was leaving.
NO APPARENT RISK OF GREY LIST FOR TURKEY
The Financial Action Task Force (FATF) has released its 5th Round Mutual Evaluation Report for Turkey, confirming that the country faces no risk of returning to the grey list, the Finance Ministry said.
PRO-GOVERNMENT YENİ ŞAFAK DEVOTES FULL FRONT PAGE TO BLASTING MEHMET ŞİMŞEK
The pro-government newspaper Yeni Şafak devoted its entire front page on Sept. 9 to a scathing critique of Finance Minister Mehmet Şimşek and his policies, urging immediate shifts including tax overhauls and fuel subsidies.
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.
AKP LAWMAKERS PRESS MINISTER ŞİMŞEK FOR PENSION REFORM
During the AKP’s 33rd Consultation and Assessment meeting in Sapanca, lawmakers criticized Finance Minister Mehmet Şimşek over soaring living costs and low retirement pensions.
FASTER INFLATION AND WIDER CURRENT ACCOUNT DEFICIT THREATEN ŞİMŞEK’S PLAN
Finance Minister Mehmet Şimşek warned investors to expect a worsening in the country’s current account and the central bank said it expects faster inflation as strain grows on the government’s economic plans.
CENTRAL BANK KEEPS INTEREST RATES UNCHANGED AMID INTENSIFYING POLITICAL PRESSURE
The central bank kept its benchmark policy rate unchanged at 37% on April 22, meeting the expectations of most analysts. The decision comes following intensified criticism of both the bank and Finance Minister Mehmet Şimşek, 59, from the business world and media outlets close to the government.
NEW REGULATION ON GOLD SALES
All gold will be sold with a tax label under the Precious Metal Tracking System (KMTS) to be launched in April by the Mint, which is affiliated with the Treasury and Finance Ministry.
TURKEY EYES SPOT AMONG WORLD’S LEADING DEFENSE EXPORTERS
Turkey is set to become one of the world’s top 10 defense exporters this year, according to Treasury and Finance Minister Mehmet Şimşek.
ŞİMŞEK SAYS RENTERS ARE MINORITY
As millions of retirees await a long-promised pension hike, Treasury and Finance Minister Mehmet Şimşek appeared to downplay the pressure caused by rising rents. Speaking at the ruling AKP’s Kızılcahamam retreat, Şimşek said: “72% of the population owns their home, 28% rent, and only 14% of retirees are renters,” according to pro-government columnist Abdulkadir Selvi.
ŞİMŞEK SAYS RENTERS ARE MINORITY
As millions of retirees await a long-promised pension hike, Treasury and Finance Minister Mehmet Şimşek appeared to downplay the pressure caused by rising rents. Speaking at the ruling AKP’s Kızılcahamam retreat, Şimşek said: “72% of the population owns their home, 28% rent, and only 14% of retirees are renters,” according to pro-government columnist Abdulkadir Selvi.