Tag #Turkish Economy

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t24.com.tr

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Aug 29, 16:18

Turkey's Economic Coordination Board (EKK) Meeting Focuses on 2026-2028 Medium-Term Program

Turkey's EKK, chaired by Vice President Cevdet Yılmaz, met to discuss the 2026-2028 Medium-Term Program (OVP), reaffirming commitment to fighting inflation and maintaining fiscal discipline while highlighting recent economic improvements.

Turkey's Economic Coordination Board (EKK) Meeting Focuses on 2026-2028 Medium-Term Program

Turkey's EKK, chaired by Vice President Cevdet Yılmaz, met to discuss the 2026-2028 Medium-Term Program (OVP), reaffirming commitment to fighting inflation and maintaining fiscal discipline while highlighting recent economic improvements.

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What are the key economic goals outlined by Turkey's EKK for the 2026-2028 OVP, and what specific measures are planned to achieve them?

The EKK's key goals for 2026-2028 include strengthening macro-financial stability, ensuring price stability, accelerating the green and digital transformations in industry, strengthening human capital, improving the business and investment climate, and promoting high value-added production and exports. Specific measures will focus on structural policy areas and include continued fiscal discipline and inflation control.

t24.com.tr

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Aug 20, 13:16

Baykar Chairman Tops Turkey's 2024 Income Tax List

Selçuk Bayraktar, chairman of Baykar, paid the highest income tax in Turkey for 2024, at 2,767,587,718 Turkish Lira, primarily due to export revenue; only 21 of the top 100 taxpayers' identities were disclosed by the General Directorate of Tax (GIB).

Baykar Chairman Tops Turkey's 2024 Income Tax List

Selçuk Bayraktar, chairman of Baykar, paid the highest income tax in Turkey for 2024, at 2,767,587,718 Turkish Lira, primarily due to export revenue; only 21 of the top 100 taxpayers' identities were disclosed by the General Directorate of Tax (GIB).

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What is the overall distribution of the top 100 taxpayers across different provinces in Turkey?

This reflects Baykar's significant export success and the concentration of wealth among a small group of high-net-worth individuals in Turkey. The top 100 taxpayers declared a combined income tax of 418 billion Lira, with only 21 names disclosed.

t24.com.tr

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Jul 16, 16:17

Turkish Domestic Equity Holdings Rise Despite Underperforming Inflation

Domestic investors' equity holdings in Turkey rose 7.9% to 3.89 trillion lira in the first half of 2025, with individual investors holding 1.91 trillion lira, though returns lagged inflation; total domestic financial assets increased 19% to 40.15 trillion lira.

Turkish Domestic Equity Holdings Rise Despite Underperforming Inflation

Domestic investors' equity holdings in Turkey rose 7.9% to 3.89 trillion lira in the first half of 2025, with individual investors holding 1.91 trillion lira, though returns lagged inflation; total domestic financial assets increased 19% to 40.15 trillion lira.

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How do the changes in equity holdings for individual versus institutional investors contribute to the overall growth of domestic financial assets in Turkey?

This growth in equity holdings, reaching a record high, occurred despite market corrections and a decline in investor numbers on the Borsa Istanbul. The increase aligns with a broader 19% rise in total domestic financial assets to approximately 40.15 trillion lira during the first half of 2025 compared to the end of 2024.

t24.com.tr

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Jun 10, 13:15

Turkey Forecasts Economic Growth and Increased Prosperity by 2026

Turkey's Treasury and Finance Minister Mehmet Şimşek predicts a more prosperous 2026, with increased purchasing power, easier access to finance, and reduced uncertainty, driven by structural reforms and government support packages totaling 114 billion TL for SMEs, including recent 30 billion TL for ...

Turkey Forecasts Economic Growth and Increased Prosperity by 2026

Turkey's Treasury and Finance Minister Mehmet Şimşek predicts a more prosperous 2026, with increased purchasing power, easier access to finance, and reduced uncertainty, driven by structural reforms and government support packages totaling 114 billion TL for SMEs, including recent 30 billion TL for ...

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How is the Turkish government addressing the financing challenges faced by businesses, and what specific support packages are in place?

Şimşek's optimism stems from a successful disinflation program that has enhanced macroeconomic stability and resilience to shocks. The government's focus is shifting towards sustainable growth by implementing structural reforms and leveraging global advantages.

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May 30, 10:11

MÜSİAD President: Turkey's Economy Shows Promise Despite Challenges

MÜSİAD's new president, Burhan Özdemir, expressed optimism about Turkey's economic future despite acknowledging current difficulties, attributing the recent decrease in inflation to the success of the Medium-Term Program and positive geopolitical developments.

MÜSİAD President: Turkey's Economy Shows Promise Despite Challenges

MÜSİAD's new president, Burhan Özdemir, expressed optimism about Turkey's economic future despite acknowledging current difficulties, attributing the recent decrease in inflation to the success of the Medium-Term Program and positive geopolitical developments.

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What is MÜSİAD's assessment of Turkey's current economic performance, and what factors contribute to their perspective?

MÜSİAD's new president, Burhan Özdemir, views Turkey's economic situation positively, attributing the decrease in inflation from nearly 80 percent to below 40 percent to the success of the Medium-Term Program (OVP). He acknowledges difficulties faced by industrialists but expresses optimism for the future.

t24.com.tr

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May 23, 13:12

Turkey's Finance Minister Confirms Commitment to Economic Program Amidst Sectoral Challenges

Turkish Finance Minister Mehmet Simsek, speaking at the Turkish Banks Association's general assembly, affirmed the government's commitment to its economic program, despite acknowledging challenges in some sectors, aiming for price stability and sustainable growth while managing temporary side effect...

Turkey's Finance Minister Confirms Commitment to Economic Program Amidst Sectoral Challenges

Turkish Finance Minister Mehmet Simsek, speaking at the Turkish Banks Association's general assembly, affirmed the government's commitment to its economic program, despite acknowledging challenges in some sectors, aiming for price stability and sustainable growth while managing temporary side effect...

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What are the immediate economic challenges facing Turkey, and what measures is the government taking to address them?

Turkey's Finance Minister Mehmet Simsek stated that the government is aware of challenges in some sectors and is taking necessary measures. He emphasized the importance of the economic program's continuation and its focus on price stability for sustainable growth. The program is managing temporary side effects, and the government believes the year-end inflation will remain within the projected range.

t24.com.tr

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Aug 28, 13:23

Turkey's July Trade Deficit Shrinks Despite Import Rise

Turkey's July 2025 exports reached $24.9 billion (up 11% year-on-year), while imports totaled $31.4 billion (up 5.4%), leading to a $6.4 billion trade deficit (down 11.8% year-on-year); manufacturing accounted for 95.5% of exports.

Turkey's July Trade Deficit Shrinks Despite Import Rise

Turkey's July 2025 exports reached $24.9 billion (up 11% year-on-year), while imports totaled $31.4 billion (up 5.4%), leading to a $6.4 billion trade deficit (down 11.8% year-on-year); manufacturing accounted for 95.5% of exports.

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What were Turkey's July 2025 export and import values, and how did the trade deficit change compared to July 2024?

In July 2025, Turkey's exports surged 11% year-on-year to $24.9 billion, while imports increased by 5.4% to $31.4 billion, resulting in a trade deficit of $6.4 billion. This represents an 11.8% decrease in the deficit compared to July 2024.

t24.com.tr

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Jul 27, 16:14

Turkey's Economy Rebounds From Shocks, But Challenges Persist

Turkey's Finance Minister Mehmet Simsek announced that the country's economy has rebounded from shocks since March, with foreign exchange reserves exceeding \$170 billion and growth continuing, although below projections; challenges remain regarding inflation and housing costs.

Turkey's Economy Rebounds From Shocks, But Challenges Persist

Turkey's Finance Minister Mehmet Simsek announced that the country's economy has rebounded from shocks since March, with foreign exchange reserves exceeding \$170 billion and growth continuing, although below projections; challenges remain regarding inflation and housing costs.

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What is the overall state of the Turkish economy following recent internal and external shocks?

Turkey's Finance Minister Mehmet Simsek reported that the economy has recovered from shocks experienced since March, with foreign exchange reserves returning to pre-shock levels of over \$170 billion. Growth, however, is slightly below projections.

t24.com.tr

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Jun 14, 13:13

Turkish Bank Credit Rises as Deposits Fall Sharply

During the week of June 5th, 2025, Turkish bank credit rose by 16.7 billion lira to 18.9 trillion lira, while deposits fell by 92.3 billion lira to 22 trillion lira, driven by increased credit card debt (2.19 trillion lira) and non-performing loans (412.4 billion lira).

Turkish Bank Credit Rises as Deposits Fall Sharply

During the week of June 5th, 2025, Turkish bank credit rose by 16.7 billion lira to 18.9 trillion lira, while deposits fell by 92.3 billion lira to 22 trillion lira, driven by increased credit card debt (2.19 trillion lira) and non-performing loans (412.4 billion lira).

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How do the changes in consumer credit, specifically credit card debt, and non-performing loans contribute to the overall trends observed in the Turkish banking sector?

This data reveals a divergence in the Turkish banking sector: strong credit growth fueled by consumer spending, particularly credit card usage, contrasts sharply with a significant decline in deposits. The increase in non-performing loans highlights a potential increase in systemic risk.

t24.com.tr

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May 30, 13:14

Turkey Unveils New Investment Incentive System with Significant Financial Aid

Turkey launched a new investment incentive system offering financial aid, including interest rate subsidies and cash incentives up to 240 million Turkish Lira, to stimulate high-value-added investments and reduce reliance on imports, prioritizing strategic sectors and regional development until Dece...

Turkey Unveils New Investment Incentive System with Significant Financial Aid

Turkey launched a new investment incentive system offering financial aid, including interest rate subsidies and cash incentives up to 240 million Turkish Lira, to stimulate high-value-added investments and reduce reliance on imports, prioritizing strategic sectors and regional development until Dece...

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How will this system impact regional development and reduce economic disparities across Turkey?

The system prioritizes high-value-added investments crucial for national needs, reducing reliance on imports and enhancing international competitiveness. Incentives are tailored to specific sectors, including technology, local development, and strategic initiatives like the "Century of Turkey Development Drive", focusing on boosting productivity and job creation.

dw.com

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May 26, 07:11

Turkey's Insufficient Aid Package for Struggling Businesses

The Turkish government is launching a 25 billion TL financial aid package for SMEs and considering reactivating the KGF, although experts doubt its effectiveness in addressing the deep financial crisis caused by past government policies, impacting hundreds of thousands of businesses and resulting in...

Turkey's Insufficient Aid Package for Struggling Businesses

The Turkish government is launching a 25 billion TL financial aid package for SMEs and considering reactivating the KGF, although experts doubt its effectiveness in addressing the deep financial crisis caused by past government policies, impacting hundreds of thousands of businesses and resulting in...

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What immediate impact will the Turkish government's 25 billion TL aid package and potential KGF reactivation have on struggling businesses?

The Turkish government announced a 25 billion TL financial aid package for SMEs, with the possibility of reactivating the Credit Guarantee Fund (KGF). However, experts express doubt that this will sufficiently address the severe financial struggles faced by hundreds of thousands of businesses burdened by the government's past policies. The aid is seen as insufficient to cover the depleted operating capital of many firms.

t24.com.tr

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May 22, 16:14

Turkey Reports 40-Month Low Inflation, Plans Further Economic Stimulus

Turkish President Erdoğan announced that inflation has fallen to a 40-month low, attributing the success to government economic policies and signaling further support for the private sector through increased funding for the Credit Guarantee Fund to stimulate economic activity.

Turkey Reports 40-Month Low Inflation, Plans Further Economic Stimulus

Turkish President Erdoğan announced that inflation has fallen to a 40-month low, attributing the success to government economic policies and signaling further support for the private sector through increased funding for the Credit Guarantee Fund to stimulate economic activity.

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What are the immediate economic impacts of the reported decrease in inflation and the government's plans to increase support for the private sector?

Turkey's President Erdoğan reported a decrease in inflation to its lowest point in 40 months and stated that the implemented economic policies are yielding positive results. He also highlighted plans to increase support for the private sector through the Credit Guarantee Fund, aiming to stimulate economic activity.

Showing 1 to 12 of 36 results