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Independent group to keep announcing inflation rates despite possible sanctions

The Inflation Research Group (ENAG) has vowed to continue releasing alternate inflation rates despite legislation proposed by the ruling Justice and Development Party (AKP)...
Business

Turkey again refuses to raise rates to fight record inflation

Turkey's central bank on Thursday brushed aside an inflation reading that has soared past 60 percent and kept its benchmark interest rate steady for...
Business

Turkey mulls jail terms for publishing unapproved economic data: report

Turkish economic researchers may face up to three years in prison if they publish unofficial data on indicators without first seeking approval of the...
Business

Turkey may oblige exporters to convert 40 percent of revenue to lira

Turkey is planning to increase the rate at which exporters must convert their hard currency revenue into lira to 40 percent, from 25 percent,...
Business

Turkey’s current account deficit reaches $5.15 billion in February

Turkey's current account registered a deficit of $5.15 billion in February, more than double the amount in the same month last year, data from...
Business

Ukraine’s defense imports from Turkey jumped 30-fold in Q1: Turkish data

Ukraine received almost 30 times as much in defense imports from Turkey in the first quarter of 2022 as it did a year earlier...
Business

Erdoğan forcing TMSF to sell hundreds of companies seized over alleged Gülen links: report

Turkish President Recep Tayyip Erdoğan has been pressuring Turkey’s Savings Deposit Insurance Fund (TMSF) into selling some 700 companies seized by the Justice and...
Business

Turkey’s trade deficit widens 76.7 percent in March on energy import costs

Turkey's trade deficit surged 76.7 percent year-on-year in March to $8.24 billion, Reuters reported on Monday, citing the Trade Ministry, mainly due to a...
Business

Turkish inflation hits fresh record at 61.1 percent

Turkey's inflation hit a new record in March, official data showed Monday, driven up by the fallout from Russia's invasion of Ukraine and soaring...
Business

S&P Global cuts Turkey’s growth forecast for 2022: report

S&P Global cut its 2022 GDP growth estimate for Turkey by more than 1 percentage point due to the effects of the war in...
Business

Erdoğan announces yet another round of VAT cuts

Turkish President Recep Tayyip Erdoğan has announced cuts to the value-added tax (VAT) on a number products to fight inflation, which has surged to...
Business

Draft law viewed as attempt to protect pro-gov’t companies from criticism

In a move interpreted as an attempt to save pro-government companies from criticism, the ruling Justice and Development Party (AKP) is planning to introduce...
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