FUEL PRICES SURGE AS GOVERNMENT PHASES OUT TAX RELIEF
The government has officially ended its sliding scale tax mechanism on fuel, triggering an immediate price hike at the pump.
Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The government has officially ended its sliding scale tax mechanism on fuel, triggering an immediate price hike at the pump.
Turkey's language learning landscape is undergoing a sharp transformation, with German and Korean emerging as the two most sought-after languages in the country, Sözcü reported.
The government program against soaring prices faced a significant setback when new data revealed that inflation is already on the verge of exceeding year-end targets in the first four months of 2026.
The government’s efforts to cool down the Turkish economy are falling short as rising energy prices and deteriorating market confidence push inflation targets out of reach.
Turkey has reintroduced the “sliding scale mechanism” to prevent dramatic pump hikes from feeding inflation after the Iranian War pushed global oil prices higher.
January inflation came in higher than expected, raising concerns that price pressures remain stubbornly high and that progress toward the government’s disinflation targets is faltering.
The collapse of the half-century-long Assad dynasty following the flight of Bashar Assad to Russia on Dec. 8, 2024 overjoyed pro-government circles here. Some even started to mention Aleppo as Turkey’s 82nd province, while the shares of cement and construction companies surged on the stock exchange.
Turkey has risen to become one of the world’s top tourism destinations, welcoming over 56 million international visitors in 2023. Its appeal lies in a rare combination of sun-soaked beaches, rich cultural heritage, world-class cuisine, and warm hospitality—all easily accessible from Europe, Asia, the Middle East, and Africa. But as prices surge and market dynamics shift, industry insiders warn the sector may be heading toward a critical inflection point.