Economy

Will Turkey's negative growth rates lead to political crisis?

Turkey negative growth rates


Author Mustafa Sonmez

Toward the end of the year, when the time comes to disclose Turkey's growth rate in the third quarter, the Turkish Statistical Institute is expected to announce the country's worst rate for the past 27 quarters. The signs are already there, growing clearer every day. In its latest report on Turkey, the International Monetary Fund has already said the year-end rate would be below 3%, a projection that is likely to be revised further downward.

Under financial strains, Turkey designs "parallel budget"

 Turkey financial strains


Author Mustafa Sonmez
Last week, Turkey’s government appointed the head of the Privatization Administration, Mehmet Bostan, as director general and board chairman of a newly established public company, the Turkish Sovereign Wealth Fund, moving a step closer to the creation of a sovereign wealth fund. The plan was first brought up in late July and hastily passed through parliament the following month.

Could megaprojects spell mega trouble for Turkey's economy?

Turkey megaprojects


Author Mustafa Sonmez

TranslatorSibel Utku Bila

A key element in the image of success the Turkish government is trying to project is the large number of grand construction projects in the country combined with the narrative that Turkey faces challenges by adversaries who are “jealous” of its progress and resurging power.

Turkey voices strong economic, trade interest in Africa

 Turkey-Africa Economic and Business Forum


ISTANBUL

Turkish officials have expressed strong interest in boosting economic and trade relations with Africa at a key joint forum in Istanbul, where their African counterparts welcomed the call.

Rough Seas Ahead for the Turkish Economy

Turkish economy


Summary
For several years, the Turkish economy has managed to keep its balance despite teetering on the brink of major problems. In 2013, the notorious "taper tantrum" exposed Turkey as one of the Fragile Five countries that would be most affected by an expected tightening in U.S. monetary policy, and the outlook for the country appeared bleak.

Why the growth slowdown in Turkey now?

Turkey economy

 
Guven Sak

Have you seen the Putinphone? Caviar, a Russian jewelry company, has designed a limited edition of them on the occasion of the 63rd birthday of the Russian president. It looks like the iPhone 6, except Putin’s face is encrusted in gold on the back, as is the seal of the Russian presidency and a few lines of the country’s national anthem. 

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