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Turkish economy

Turkish companies start using yuan funding after Chinese swap deal: report

Turkey's central bank said Turkish companies last week used Chinese yuan funding for the first time under a swap agreement signed with the People’s...

Turkey eases pandemic measures further, vows to boost economy

President Recep Tayyip Erdoğan said on Tuesday Turkey was largely lifting stay-at-home orders for people aged 65 and older and for youngsters as part...

Turkish economy will contract 3.8 percent this year, rebound with 5 percent next: World Bank

The World Bank said it expects Turkey's economy to contract by 3.8 percent in 2020 after projecting 0.5 percent growth in its previous estimate...

Turkey’s economy grew 4.5 pct in first quarter before coronavirus outbreak hit

The Turkish economy grew 4.5 percent year-on-year in the first quarter of 2020, propelled by a lending spree just before the coronavirus pandemic brought...

Turkish finance minister sees positive growth at yearend despite coronavirus

Turkey will end the year with positive economic growth despite the coronavirus pandemic, Finance Minister Berat Albayrak said on Wednesday, according to Reuters. “Despite this...

Turkey hikes tax on foreign currency purchases from 0.2 to 1 percent

Turkey has hiked a tax on the buying of foreign currency to 1 percent from 0.2 percent in a move meant to curb fallout...

Turkish central bank cuts policy rate by 50 pts, eyes normalization: report

Turkey’s central bank cut its policy rate by 50 basis points to 8.25 percent as expected on Thursday, taking advantage of recent lira strength...

Rising youth unemployment discourages young people from seeking jobs: report

The youth unemployment rate is on the rise in Turkey, with many young people abandoning the search for a job, a joint report by the Platform...

Brazil, Turkey face high risk from local debt splurge, Goldman Sachs says: report

Brazil, Turkey and some frontier markets face the biggest risk from a possible surge in local sovereign debt issuance as developing governments ramp up spending to...

Turkey faces high bar to US swap line deal, former Fed chief says: report

Turkey’s foreign cash needs are not the sort of thing the US Federal Reserve is likely to relieve given its economic challenges and volatile diplomatic relations...

European bank expects Turkey’s economy to contract 3.5 pct by yearend: report

The European Bank for Reconstruction and Development (EBRD) said on Wednesday it expects Turkey's GDP to contract by 3.5 percent in 2020 due to the coronavirus...

Babacan says Erdoğan’s coronavirus response falls short of protecting economy: report

The man who’s widely credited with shepherding Turkey through its two biggest crises in as many decades is warning that the government’s response to the coronavirus...

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