Finance Minister announces “New Economy Program” downgrading growth forecast

Treasury and Finance Minister Berat ALBAYRAK has announced the New Economic Program (YEP) which is normally (and traditionally referred to as Medium Term Program). The forecast is that Turkey will grow by 0.3 percent in 2020. In the previous presentation, the growth forecast was announced as 5 percent. Unemployment and inflation forecasts for 2021 More...

by BTT | Published 6 hours ago
By BTT On Tuesday, September 15th, 2020
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Report says Turkey’s accumulation has been sold by administrations in 40 years

The Research Center of the Confederation of revolutionary Trade Unions of Turkey (DISK-AR) prepared a study in the 40th year of the September 12 coup, revealing how the coup process against Labor destroyed rights More...

By BTT On Saturday, August 29th, 2020
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Reuters says Turkey’s economy expected to shrink 11.8 percent in second quarter

Turkey’s economy is forecasted to shrink by 11.8 percent in the second quarter when the corona virus measures were implemented and 1.9 percent in the whole of 2020. Estimates of contraction for the second More...

By BTT On Saturday, August 8th, 2020
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A most recent review of Turkish economy as Covid-19 pandemic prevails

Turkey is obviously going through real challenging times – like with many other countries – and the administration has to take solid and efficient measures, as agreed by many experts. To provide some examples; More...

By BTT On Friday, August 7th, 2020
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Turkey’s 5-month current account deficit goes up to $ 16.7 billion due to pandemic mainly

With the effect of the pandemic, tourism revenues were included as zero in the balance of payments account in May after April. On top of that the increase in foreign trade deficit and the exit of foreigners from More...

By BTT On Wednesday, August 5th, 2020
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Some expert views about movement of gold and dollars against Turkish lira

The rise in gold prices continued on 5 August 2020 with new records. While gold rose to US$ 2,040 an ounce, gram gold rose to $ 460 (a gram). According to experts, concerns regarding the second wave in the corona More...

By BTT On Wednesday, August 5th, 2020
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IMF warns Turkey of low reserves says its reserves decreased by $22 billion in Jan-May

INTERNATIONAL MONETARY FUND has published its 2020 Foreign Sector Report in which it evaluated the Euro zone’s external positions to include current accounts, real exchange rates, capital flows and international More...

Central Bank announces end-year US dollar and inflation forecast for 2019
By BTT On Saturday, August 1st, 2020
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Why is US dollar TL rate climbing again despite government’s efforts to prevent it?

The depreciation of the TL against US dollar is once again at the top of the economic agenda in Turkey nowadays. The rate today (01 August 2020) is close to 7 TL. Why is the pressure on TL increasing again? Down More...

Turkey’s industrial production continues to decrease in September 2018
By BTT On Sunday, July 19th, 2020
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Opposition party politicians say Turkey has had worst 5 years in its economic history

A top politician member of IYI PARTY (Good Party) and responsible for “Development Policies has commented “If it is known that the rule of law and justice has definitely entered into Turkey, money is abundant More...

By BTT On Wednesday, April 15th, 2020
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An opinion about remedies to get Turkey out of economic crisis prevailing currently

Many reports and forecasts are issued about how Turkey would do in terms of economy, in the coming period. Most of these evaluations do not seem to be very promising and in fact IMF for instance has shared lately More...