TURKEY, SYRIA AIM $5 BILLION TRADE WITH 10 NEW AGREEMENTS
Turkey and Syria have reached consensus on 10 new agreements with a target of $5 billion in trade.
Analysis
In-Depth Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
QUESTIONS MOUNT OVER SOLDIER DEATHS
Twelve Turkish soldiers died from gas exposure in a PKK-used cave in northern Iraq on July 6, and two more from excessive fluid loss in Hatay on July 25, but key questions about both incidents remain unanswered.
DEBATE ON FORMING KURDISH ISSUE COMMISSION ENDS AS NEW CLASHES BEGIN
As of July 31, all parties represented in Turkish Parliament—except the İYİ Party—have appointed members to join the parliamentary commission on the Kurdish issue, ending debates over which parties would take seats. Attention now turns to the commission’s roadmap, including its official name, agenda, timeline, and decision-making rules. The İYİ Party’s decision to abstain from participation has complicated the calculation of an absolute majority. While Parliament Speaker Numan Kurtulmuş initially announced that the commission would have 51 members, the İYİ Party’s absence reduces the number to 48, raising debate over whether the three-fifths majority should be calculated based on 51 or 48 members.
SPEAKER MOVES TO FORM PEACE COMMISSION AS CRUCIAL TERMS STILL IN LIMBO
The Turkish Parliament Speaker has moved forward to form a long-anticipated commission as part of the government’s “Terror-Free Turkey” initiative, setting the number of members at 51 and requesting party nominations by July 31, following days of delay and political back-and-forth.
SAVINGS IN PUBLIC SECTOR TARGET COME TO NOTHING
The government's push for austerity in the public sector has failed to deliver results. Despite promises to cut costs—particularly through the disposal of surplus vehicles—public institutions spent 161.2 million lira on new vehicle purchases in the first half of 2024, while generating just 5.1 million lira in sales.
PARLIAMENT IN FLUX AS PARTY SHIFTS ACCELERATE
The arithmetic in the Turkish Parliament is shifting rapidly, as party defections mount. Since the May 2023 elections, 35 lawmakers have resigned from their parties, significantly altering the composition of parliament. The İYİ Party has shrunk from 43 to 29 MPs; DEVA has dropped from 15 to 9; and Gelecek from 10 to 4. Of the defectors, 11 joined the AKP and 10 moved to the CHP. Fourteen now sit as independents.
CENTRAL BANK CUTS RATES BY 3 POINTS DESPITE ONGOING INFLATION RISKS
The Central Bank lowered its one-week repo rate from 46% to 43% on July 24, despite warning signs that inflation pressures persist. This was the first cut following the April rate hike. The Monetary Policy Committee also reduced the overnight lending rate from 49% to 46% and the overnight borrowing rate from 44.5% to 41.5%. While June’s core inflation trend remained unchanged, preliminary indicators pointed to a temporary rise in July inflation due to month-specific factors.
OLIVE GROVES OPENED TO MINING DESPITE OUTCRY
Parliament passed a legislative package on July 19 that enables mining in olive groves, triggering protests from opposition parties, locals, and environmental groups. The bill, which the AKP says is to address Turkey’s energy needs, passed with 255 votes in favor and 199 against.
CHEATING ALLEGATIONS MAR 2025 HIGH SCHOOL ENTRANCE EXAM
Allegations of widespread cheating in Turkey’s national High School Entrance Exam (LGS) have triggered a political storm, with opposition figures accusing the Education Ministry of negligence and a cover-up, while Minister Yusuf Tekin has forcefully rejected the claims, using inflammatory language to discredit critics. More than a month after the exam, a senior official from the ministry has been dismissed.
ASELSAN TOPS BORSA ISTANBUL IN H1 2025
ASELSAN, which led Borsa Istanbul (BIST) in trading volume in April, closed the first half of 2025 as the exchange’s most valuable company.
TURKEY RENEWS GÜLENIST PURGE ON COUP ATTEMPT ANNIVERSARY
On the ninth anniversary of the July 15 coup attempt, Turkish authorities launched a new wave of raids targeting the Gülenist movement, which Turkey officially labels as the terrorist group “FETÖ.”
İMAMOĞLU CLEARED OF ‘TARGETING’; RECEIVES PRISON SENTENCE FOR ‘THREAT’ AND ‘INSULT’
Jailed Istanbul Metropolitan Mayor Ekrem İmamoğlu was acquitted of charges of “targeting public officials involved in counterterrorism” but was convicted of “publicly insulting a public official due to his duty” and “making threats” in the case concerning Istanbul Chief Public Prosecutor Akın Gürlek. The court sentenced İmamoğlu to one year and five months in prison for the insult charge and an additional two months and 15 days for the threat charge, totaling one year and eight months. If upheld by the appeals court, the ruling could result in a political ban.