Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The Turkish Presidency spent more than 32 million lira per day in 2024, according to financial records shared by the Court of Accounts. The annual total reached 12.57 billion lira, a significant increase over the previous year, BirGün reported.
Tax inspections generated an additional 15 billion lira ($360 million) by targeting high earners who had not filed income tax returns.
Turkey and Egypt conducted their first joint military exercise in the Eastern Mediterranean after a 13-year hiatus, between Sept. 22-26. The two countries also signed an agreement in August on the joint production of unmanned aerial vehicles capable of vertical takeoff and landing.
After the CHP pushed back against a wave of lawsuits aimed at annulling its 2023 congress, some AKP-affiliated pundits—occasionally critical of their own party’s leadership—called for an end to the judicial crackdown.
The first meeting in six years between President Recep Tayyip Erdoğan and U.S. President Donald Trump at the White House started with positive messages, as both refrained from directly addressing the issue of Gaza, on which they are at odds.Trump suggested the U.S. could lift sanctions on Turkey and allow it to buy U.S. F-35 jets, blocked due to Turkey’s procurement of S-400s from Russia, but added that he would like to see Turkey - a NATO member - stop buying Russian oil while the war in Ukraine continues. 'I'd like to have him stop buying any oil from Russia while Russia continues this rampage against Ukraine.'
Turkey’s main opposition party, the CHP, is convening an extraordinary congress today in a bid to resolve ongoing legal challenges stemming from vote-buying allegations tied to its 2023 ordinary congress. CHP Chair Özgür Özel, who took the party’s helm during that same 2023 congress, is expected to reaffirm his leadership for the third time. No challenger is anticipated.
U.S. President Donald Trump will host Turkish President Recep Tayyip Erdoğan at the White House on Sept. 25, shortly after both leaders attend the UN General Assembly in New York. Their talks are expected to focus on defense and trade, including Boeing aircraft sales, a major F-16 package, and the potential revival of discussions on the suspended F-35 program.
Religious Affairs Directorate head Ali Erbaş’s term has come to an end. He held the post for eight years. In other words, during the last eight years of the ruling party’s 23-year tenure, Turkey’s religious life was under Erbaş’s administration. Heads of the directorate, known as the Diyanet in Turkish, have always been subjects of debate, but Erbaş has been at the very peak of this controversy.
The postponement of the decision in the lawsuit to cancel the CHP's 38th regular congress brought short-term relief to the markets. The BIST 100 index gained 5% following the decision. The banking index also gained over 6%. The risk premium reached 261 basis points, the lowest in about six months.
The 13th Teknofest, Turkey’s Aviation, Space, and Technology Festival, is taking place at Istanbul Atatürk Airport from Sept. 17 to 21. The event is organized by the T3 Foundation (Turkey Technology Team) and the Ministry of Industry and Technology.
Vice President Cevdet Yılmaz unveiled the Medium-Term Program for 2026–28, raising the end-2025 inflation target by 11 points from the previous plan. Yılmaz said real GDP growth targets are 3.8% in 2026, 4.3% in 202, and 5.0% in 2028. The inflation path is 28.5% for end-2025, 16% for end-2026, 9% for 2027, and 8% for 2028.
The Central Bank reduced its policy interest rate, the one-week repo auction rate, from 43% to 40.5%, the second straight cut.