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Lira hits year low as Turkey holds interest rates

The Turkish lira touched its low for the year on Thursday as the central bank once again refused to raise interest rates to combat...

Home sales to foreigners in Turkey skyrocketed in June

House sales to foreigners in Turkey jumped by 81.7 percent in June year-on-year, although the amount foreigners are required to pay for a piece...

Turkish budget swings to deficit in June on increased spending

Turkey’s central government budget swung to a deficit in June on the back of increased spending on current transfers and personnel wages, Bloomberg reported. The...

High inflation result of Erdoğan’s mistakes, ex-AKP heavyweight says

Opposition Democracy and Progress Party (DEVA) leader and former deputy prime minister Ali Babacan has blamed President Recep Tayyip Erdoğan for Turkey's soaring inflation,...

Turkish unemployment falls to 10.9 percent in May

Turkey's unemployment rate dropped 0.3 percentage points month-on-month to 10.9 percent in May, while a seasonally adjusted measure of labor underutilization rose 0.8 points...

Fitch cuts Turkey’s debt ratings to ‘B’ from ‘B+’

Ratings agency Fitch downgraded Turkey's debt rating to "B" from "B+" on Friday, citing increasing inflation and broad concerns about the economy, from a...

Turkey’s inflation hits two-decade high of 78.6 percent

Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official data released...

Turkey’s troubled lira rallies on ‘backdoor capital controls’

Turkey's beleaguered lira extended its biggest rally of the year on Monday in response to a new rule that effectively forces many banks to...

Report reveals economic decline of Turkey since introduction of presidential system

A recent report released by the Confederation of Progressive Trade Unions (DİSK-AR) research center has revealed how the presidential system has taken an economic...

Inflation-ravaged Turkey refuses to raise rates

Turkey's central bank on Thursday bucked global trends once again and kept its benchmark interest rate stable despite one of the highest levels of...

TÜSİAD chair slams Erdoğan gov’t’s unorthodox economic policies amid highest inflation since 1998

Orhan Turan, president of the Turkish Industrialists and Businessmen’s Association (TÜSİAD), has criticized the unorthodox economic policies of President Recep Tayyip Erdoğan’s government, calling...

Turkey’s minimum wage workers earn $26 less a month than they did in 2021

Although the Turkish minimum monthly wage was increased by 50 percent for this year to help offset an increased cost of living, it has...

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