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Turkish economy

137,000 Turks moved abroad in 2018

A total of 137,000 Turkish nationals moved abroad in 2018, representing an increase of 20 percent over the previous year, the Sözcü newspaper reported on Wednesday, citing...

Turkish minister expects 4 percent growth in economy in Q4

Treasury and Finance Minister Berat Albayrak on Thursday said the Turkish economy could see 4 percent growth in the fourth quarter of this year, while the...

Turkish markets tumble under threat of US sanctions: report

The lira broke past the 5.93-per-dollar mark on Monday even as lenders sold more than $1 billion worth of foreign exchange, according to two people familiar with...

Moody’s disputes Turkey’s growth expectations unveiled in new economic program

Global credit rating agency Moody’s says Turkey’s economic program growth targets risk increasing macro imbalances, adding that a 5 percent growth target for next year is...

Turkey considers raising income tax for top earners: report

Turkey is planning to raise the income tax rate for top-bracket earners to 45 percent from the current level of 35 percent, according to a person...

Trump threatens to destroy Turkish economy if Ankara acts ‘off-limits’ in Syria

US President Donald Trump on Monday threatened to “totally destroy and obliterate” the Turkish economy if Turkey took any action he considered “off-limits” following his decision...

Turkey’s state-owned Halkbank deemed weakest on Fitch stress test

Fitch Ratings on Thursday said Turkey’s three major state-owned banks are less equipped to deal with a potential deterioration in asset quality than their privately owned peers,...

Foreign tourist numbers in Turkey up 15 percent in first 8 months of 2019

Turkey’s tourism sector has been experiencing a boom in 2019, with foreign visitor numbers rising by nearly 15 percent year-on-year in the first eight...

Fitch eases 2019 contraction forecast for Turkey: report

Fitch ratings has revised its contraction forecast for Turkey from 1.1 percent to 0.3 percent, stating that the country’s economy performed better than expected during the second...

Erdoğan sparks controversy with photos showing him shopping in supermarket

Many social media users in Turkey have approached with skepticism photos that made their way to media outlets on Sunday showing Turkish President Recep...

Turkey still susceptible to external and domestic risks, says IMF: report

Turkey remains susceptible to external and domestic risks, the International Monetary Fund IMF) said on Monday, while strong, sustainable growth would be challenging without further reforms...

Turkey’s consumer confidence falls to 55.8 points in September

Turkey’s consumer confidence index fell to 55.8 points in September, after rising to 58.3 points in August, data from the Turkish Statistical Institute showed on Friday,...

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