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Tourism lull in 2020 might have cost Turkey’s GDP $93 bln: UN report

The total loss caused by the crash in international tourism to Turkey's GDP in 2020 due to the coronavirus pandemic could be as high...
Business

Turkey holds key rate at 19 percent for third month to help lira

Turkey's central bank on Thursday held its interest rate at 19 percent for the third month, balancing President Recep Tayyip Erdoğan's call for lower...
Business

15 businesspeople sentenced to prison over Gülen links

Fifteen defendants have been sentenced to prison in a trial concerning the activities of the now-closed Turkish Confederation of Businessmen and Industrialists (TUSKON) due...
Business

Turkey’s central banker tries to calm market jitters

Turkey's central bank chief on Wednesday tried to quash speculation that he is about to bow to President Recep Tayyip Erdoğan's pressure and cut...
Business

Turkish lira hits all-time low after Erdoğan’s call for interest rate cuts

The Turkish lira hit a record low after Turkish President Recep Tayyip Erdoğan said during a televised interview late on Tuesday that he spoke...
Business

Turkey’s economy grew by 7 percent in first quarter of 2021

Turkey's economy grew a more-than-expected 7 percent year-on-year in the first quarter, official data showed on Monday as pandemic restrictions did not temper hot...
Business

Erdoğan fires central bank deputy governor

Turkish President Recep Tayyip Erdoğan fired one of four central bank deputy governors on Tuesday, according to an overnight presidential decree published in the...
Business

14 months into pandemic, Erdoğan announces one-time aid package for businesses

Fourteen months after the outbreak of the coronavirus pandemic in Turkey, President Recep Tayyip Erdoğan on Monday announced a stimulus package of TL 4.6...
Business

More than a fourth of Turks say they can’t meet basic needs: survey

According to a recent survey, 26.6 percent of Turks say they can't meet their basic living costs, while 54 percent state that they barely...
Business

Turkey’s unemployment rate stood at 13.1 percent in March

Turkey's unemployment rate stood at 13.1 percent in March, down by 0.1 percentage points month-on-month, the Turkish Statistical Institute (TurkStat) announced on Monday, according...
Business

TurkStat files complaint against research group, alleges tweaking of inflation figures

The Turkish Statistical Institute (TurkStat) has filed a criminal complaint against the independent Inflation Research Group (ENAG) on accusations of manipulating the country’s inflation...
Business

Turkey holds key interest rate at 19 percent

Turkey's central bank on Thursday held its main interest rate at 19 percent while hinting that it may be lowered in the months to...
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