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Turkey sharply cuts growth forecasts in new economic program

Turkey has sharply cut its growth forecasts for this year and next in its new economic program, unveiled by Treasury and Finance Minister Berat...
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Erdoğan’s job approval falls to 44.5 percent, with 46.7 percent not approving

Turkish President Recep Tayyip Erdoğan’s job approval fell to 44.5 percent in August, while the disapproval rate increased to 46.7 percent, according to a...
Business

Fitch downgrades its growth forecast for Turkey amid currency crisis

Fitch Ratings has revised its growth forecast for Turkey to 3.8 percent in 2018 and 1.2 percent in 2019, lowering it by 0.7 percent...
Business

Turkey calls on country’s religious authority in struggle to keep prices down

As the Turkish lira continues to be hit by losses in value against foreign currencies, the government has been struggling to keep prices down,...
Business

Turkey’s central bank deputy governor to leave: report

Turkish Central Bank Deputy Governor and ratesetter Erkan Kilimci is leaving the bank, three sources familiar with the matter told Reuters. Kilimci is joining the...
Business

Central bank poll: Turkish lira will be valued at 5.97 to the US dollar at yearend

Turkey’s central bank has released its expectations poll for August 2018 in which it forecast the value of the lira against the US dollar...
Business

Finance Minister Albayrak seeks to reassure global investors amid currency crisis

-- No plans to go to IMF, focus on foreign direct investment -- Government to see certain expenditure cuts -- No non-market measures or capital controls --...
Business

New economic model for Turkey to be announced on Friday: minister

Turkish Treasury and Finance Minister Berat Albayrak is set to announce a "framework for a new economic model" on Friday, the ministry has announced,...
Business

Improper to speculate on central bank’s independence, says new finance minister

Turkey’s new Treasury and Finance Minister Berat Albayrak has underlined that it is improper to speculate on the central bank's independence and decision-making mechanisms,...
Business

Turkey’s central bank hikes benchmark rate 125 basis points

The Turkish Central Bank (TCMB) raised its benchmark rate from 16.5 to 17.75 percent on Thursday, a move that was expected following an increase...
Business

Turkey’s central bank raises year-end inflation forecast to 8.7 percent

Turkish Central Bank Governor Murat Çetinkaya on Tuesday raised the inflation forecast for end-2017 to 8.7 percent from the previous 8.5 percent. Speaking during a...
Headline

Turkey annual inflation reaches 11.2 percent in March, highest since 2008

Turkey's annual inflation hit its highest point in March since 2008 as it reached 11.29 percent, data released on Monday by the Turkish Statistics...
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