Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The CEO of Turkey’s largest private lender, İşbank, called for an immediate departure from the government’s economic program, saying that global conditions have made the fight against inflation impossible.
Hakan Aran, head of İş Bank, the country’s largest private lender, said they expect Turkey’s annual inflation to drop to 29% by the end of 2025, with interest rates falling to 35%. Aran shared his predictions regarding the economic normalization process at a press conference. According to Aran, “we may see monthly inflation rates drop below 1% as the normalization process begins in May 2026.”