What Happened to the GDP Data of Turkey?

What Happened to the GDP Data of Turkey?

The National Accounts of Turkey have been recently revised by the Turkish Statistical Institute, resulting in remarkable updates on the Gross Domestic Product (GDP) series. Based on this revision, the Turkish economy seems to have painted a rosy picture in the post-crisis period until 2015. While the real GDP growth rate has become 7.4 percent […]

Turkey’s Economy at the Crossroads

Turkey’s Economy at the Crossroads

On July 15, Turkey’s tumultuous 2016 took a shocking twist as elements within the country’s military attempted a coup against the government of President Recep Tayyip Erdogan. The putsch rapidly snapped at the seams, and a night that began with soldiers blocking bridges yielded a morning with those same soldiers flogged by civilians in the […]

Despite Political Headwinds, Turkey’s Economy Remains Resilient

Despite Political Headwinds, Turkey’s Economy Remains Resilient

photo: Moyan Brenn Key takeaway – Global and local tensions are taking a toll on Turkey’s political stability. The conflict in Syria, terrorist attacks, the refugee crisis, and President Erdoğan’s divisive efforts to transfer executive powers to the presidency are breeding instability. Over the past year, the investment climate has worsened. Investors’ confidence is diminishing. The […]

Critical Week for the Turkish economy

At first look, the domestic economic agenda looks light this week, with purchasing managers’ indices, preliminary exports and inflation being the main data releases. However, it may end up being the make-or-break week for Turkish assets, and eventually for the economy. The intro. to my latest Hurriyet Daily News (HDN) column pretty much sums up […]

The tsar and the sultan (queen) meddle with monetary policy

Governor Erdem Başçı did indeed save the best for last during his briefing on the Central Bank’s first Inflation Report of the year on Jan. 28. At the Q&A session, he said the monetary policy committee (MPC) would cut interest rates at an emergency meeting on Feb. 4 if annual inflation fell more than one percentage point in January. Here is […]

The Grand Bu-da-peşkeş Hotel

I had very high expectations from “The Grand Budapest Hotel”, the latest Wes Anderson movie which was nominated for nine Oscars on Jan. 15, four days after winning the best musical or comedy at the Golden Globes on Jan. 11. Not only because I am big Anderson fan, but also because the movie is inspired […]

Summary of Turkey in 2014: !Redrum

I use the first two columns of the year to summarize the past year’s economic agenda and share my predictions for the new year. The first one is much easier, as I have more than 100 of my columns to guide me. As I explain in its introduction, I refer to my columns from last […]

Erdoğan’s choice: Reform or religion?

After revealing the first nine on Nov. 6, Prime Minister Ahmet Davutoğlu unveiled seven more transformation programs of the government’s ambitious reform strategy at a press conference on Dec. 18. In my latest Hurriyet Daily News (HDN) column, I explain why it is a complete waste of time to discuss the second part of the […]

Turkish Economy Living on Borrowed Time

I looked at emerging market (EM) exchange rates against the dollar on the night of Dec. 17, right before the Federal Reserve’s (Fed) interest rate decision. The Turkish Lira was the second most depreciated currency against the dollar, right after the Russian ruble. Here the into. to my latest Hurriyet Daily News (HDN) column, where […]

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