Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
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).
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.
Foreign Minister Hakan Fidan traveled to Libya on Aug. 11 and 12, visiting both Tripoli and Benghazi, in what appears to be the first time a Turkish foreign minister has made a simultaneous visit to meet competing sides in the Libyan conflict.
Syrian Foreign Minister Asaad Hassan Sheibani held separate talks in Ankara with Turkish Foreign Minister Hakan Fidan and National Intelligence Organization (MİT) Chief İbrahim Kalın, focusing heavily on regional security and the integration of Kurdish armed groups into Damascus’ central authority.
UN Secretary-General António Guterres' July 27-29 visit to Cyprus produced no concrete resolution plan or new timetable. Ankara welcomed efforts with caution and Deputy Foreign Minister Mehmet Kemal Bozay headed to Northern Cyprus after the talks.
Foreign Minister Hakan Fidan carried a pointed message to Kyiv: Turkey does not want the Russia-Ukraine war spilling into the Black Sea.
Foreign investors' confidence in Turkish equities is under mounting pressure as two of the world's leading index providers signaled Istanbul's stock market could face a downgrade. Morgan Stanley Capital International (MSCI) issued another warning regarding investment accessibility and shareholder transparency, announcing it may re-evaluate free-float structures on a company-by-company basis and reclassify certain shareholders as 'non-free float' to address distorted calculations driven by coordinated fund actions.
Foreign Minister Hakan Fidan made a high-profile, two-day visit to Russia, sitting directly across from President Vladimir Putin to signal stable bilateral ties amid speculation that Turkey was distancing itself from Moscow.
Questions about the future of Turkey-Armenia normalization have grown after Turkish Foreign Ministry removed key wording from its statement on Armenian elections, putting pressure on Armenia rather than also pushing Azerbaijan and it took President Recep Tayyip Erdoğan four days to congratulate the Armenian prime minister on his election win.
The Turkish economy grew by 2.5% in the first quarter of 2026 compared to the same period last year, lower than the 2.7% growth expected by economists. TurkStat data showed that quarter-on-quarter GDP growth remained at 0.1%. Household consumption made the largest contribution to growth with 3.4 percentage points. However, industrial production contracted. Also, the negative contribution of net foreign trade expanded.
Foreign Minister Hakan Fidan, known for his intensive diplomacy and negotiation efforts on Middle East cases, particularly Syria, has embarked for the first time since taking office on a lengthy Asia-Pacific tour, visiting four countries in succession.
One of the most concrete steps yet in the normalization process between Turkey and Armenia—launched in 2021—has been taken with a move toward direct trade between the two countries. Armenian Prime Minister Nikol Pashinyan is heading into a June 7 election widely seen as a vote of confidence on his parallel agendas of steering the country toward the West while pursuing peace with Azerbaijan and normalization with Turkey. Turkish Foreign Ministry spokesperson Öncü Keçeli announced on X on May 13 that bureaucratic preparations for the launch of direct trade between Turkey and Armenia had been completed as of May 11.