Turkish economy

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Turkey’s annual inflation nearly hits 18 percent

Annual inflation in Turkey rose again in August to nearly 18 percent, official statistics showed on Sept. 3, a record since late 2003, after the Turkish Lira dramatically weakened against the U.S. dollar last …

 Turkish lira plunges to record low against dollar

Turkey’s national currency - lira tumbled to another record low against the dollar today. The lira traded down 9% against the U.S. dollar at 6.04 and briefly fell more than 12%.  Then lira pared some of its losses to trade at …

Turkey finds way to increase its gold fund reserve

Turkey plans to increase the country's gold reserve through the sale of old cars without owners, and confiscated ones as well. According to Turkish media, local municipalities will sell abandoned or confiscated cars, and the …

Turkey's economy grows 7.4% in 2017

Turkey's economy grew 7.4%in 2017, compared with the previous year, the Turkish Statistical Institute (TurkStat) said. GDP at current prices climbed to over 3.1 trillion Turkish liras (nearly $850.7 billion) last year, up 19% from …

Turkey widens free trade agreement with Georgia

Georgia and Turkey have agreed to widen an existing free trade agreement, so Georgian producers will soon be able to increase export volume to Turkey by 20%. The final round of negotiations was held Ankara, where delegations of …