KARAHAN: POLICY WILL BE TIGHTENED IF TARGET IS MISSED
Central Bank Governor Fatih Karahan said that if the inflation target is missed, monetary policy will be tightened.
Analysis
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PRESIDENCY SPENDING SOARED TO 12.5 BILLION LIRA IN 2024
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.
CASE AGAINST TOP BUSINESS EXECUTIVES POSTPONED
No decision was reached at the second hearing of the case against two leaders of the top business group TÜSİAD for comments they made in speeches. In court, Orhan Turan, chair of the Board of Directors of the Turkish Industrialists' and Businessmen's Association (TÜSİAD), and Ömer Arif Aras, Chair of the High Advisory Council (YİK), denied the charges against them and requested acquittal.
ADDITIONAL TARIFFS ON U.S.-MADE PRODUCTS REMOVED
President Recep Tayyip Erdoğan removed additional tariffs on certain U.S.-made products, including automobiles, ahead of his meeting with U.S. President Donald Trump. The Presidential Decree was published in the Official Gazette, saying that no additional taxes will be imposed on imports of U.S.-origin products such as passenger cars, cosmetics and skin care products, leaf tobacco, and alcoholic beverages.
TAX AUDIT FOR TEN THOUSAND BIG BUSINESSES
Tax inspections generated an additional 15 billion lira ($360 million) by targeting high earners who had not filed income tax returns.
LABOR MINISTER CALLS JOBLESS YOUTH “THE OTHER SIDE”
With the youth unemployment rate above 25 percent, Labor and Social Security Minister Vedat Işıkhan characterized jobless young people as the “other side” and blamed them for making “excuses” instead of accepting available jobs, stating that they suffer from a “perception disorder.”
TURKEY AND ITALY AGREE LANDING GEAR MAINTENANCE DEAL
Turkey and Italy signed a joint venture agreement for landing-gear maintenance, starting with T129 attack helicopters produced by Turkish Aerospace Industries, and aiming to expand capacity for military and civilian aircraft.The Military Factory and Shipyard Management Corporation of Turkey and Italy’s Magnaghi Aerospace will establish a joint maintenance center in Turkey. The Turkish side plans to extend services to civilian platforms, aiming to make Turkey a regional hub for landing gear maintenance and exports. The deal was signed during the technology and defense festival Teknofest Istanbul, on Sept. 19.
TURKEY AND EGYPT HOLD FIRST JOINT EXERCISE IN 13 YEARS
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.
BAHÇELİ BRINGS UP MILITARY OPTION AGAINST ISRAEL
MHP Chair Devlet Bahçeli said that the time has come to issue a stern ultimatum against Israel, including military options, regarding Israel's attacks on Palestine and the regional actors.
BAHÇELİ'S TRÇ PROPOSAL FALLS FLAT
President Recep Tayyip Erdoğan shows no interest in MHP Chair Devlet Bahçeli's proposal that Turkey, Russia, and China (TRÇ) should form an alliance against the U.S.-Israel coalition.
REMARKS INCREASED TENSION PRIOR TO ERDOĞAN AND TRUMP MEETING
Three different remarks increased the tension prior to President Recep Tayyip Erdoğan’s meeting with the U.S. President Donald Trump at the White House. During an interview with FOX TV, Erdoğan challenged Trump’s main motto that he ended seven wars.
DISSENTING VOICES IN THE AKP
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.