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    Turkish economy

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    • Wednesday, 27 September, 2023
      Interview
      Turkey’s finance minister says ‘challenging’ conditions will take time to turn around

      Mehmet Şimşek claims Erdoğan has thrown ‘support and commitment’ behind recent interest rate increases

      Mehmet Şimşek speaks to journalists
    • Thursday, 21 September, 2023
      Turkey raises interest rates for fourth time since June

      Central bank lifts borrowing costs to 30% as part of efforts to tackle high inflation

      Central bank chief Hafize Gaye Erkan
    • Thursday, 7 September, 2023
      Turkey’s economic revamp draws foreign investors back to its markets

      VakifBank bond and Ebebek IPO show overseas funds willing to test waters after deserting country in recent years

      Pedestrians pass a VakifBank branch in Istanbul, Turkey
    • Wednesday, 6 September, 2023
      Central banks
      Erdoğan abandons cheap money to counter Turkey’s soaring inflation

      President vows to use ‘tight monetary policy’ in sharp about-turn

      Turkish president Recep Tayyip Erdoğan
    • Thursday, 31 August, 2023
      Turkish spending boom fuels strong expansion of economy

      GDP growth of 3.8% beats forecasts on back of post-earthquake reconstruction and credit-fuelled consumption

      A shopper at a clothing store in Istanbul
    • Thursday, 24 August, 2023
      Turkey raises interest rates as it steps up decisive shift in economic policy

      Central bank continues to unwind unorthodox position favoured by Erdoğan as it seeks to stem runaway inflation

      A shopper browses garments in Istanbul
    • Thursday, 24 August, 2023
      Capital markets
      Turkey leads London and Milan in 2023 IPO race

      Companies raise nearly $2bn on Borsa Istanbul as they tap into retail trading frenzy

      A workers looks at screens at the Istanbul stock exchange
    • Sunday, 20 August, 2023
      Turkey backs away from foreign currency protected savings accounts

      Erdoğan continues retreat from unconventional economic policies that stoked inflation crisis

      US dollars being exchanged for lira
    • Friday, 11 August, 2023
      Turkey gains current account surplus after surge in tourism

      Figure for June is first time country’s balance of payments has not recorded a deficit since 2021

      Tourists on a beach in Bodrum, Turkey
    • Saturday, 5 August, 2023
      News in-depthTurkey
      Cheap deals and weak lira boost Turkey’s tourist appeal

      Visitor numbers rising but those in the sector say cost of living crisis means travellers are spending less once they arrive

      Holidaymakers watch each other  jump from rocks into the sea in Antalya, Turkey
    • Thursday, 3 August, 2023
      Turkey’s inflation rate jumps to almost 50%

      Weak lira and government’s stimulus programme push prices higher, adding to strain on consumers

      Pedestrians pass a clothing store advertising a sale in Istanbul, Turkey
    • Wednesday, 2 August, 2023
      Runaway inflation fuels blistering rally in Turkey’s stock market

      Locals seek shield from rising prices in equities while president Erdogan’s pivot to ‘rational’ policymaking lures foreign buyers

      People shop at a fresh market in Istanbul, Turkey
    • Friday, 28 July, 2023
      Lex
      Turkey: risk takers dip their toes into the equity market Premium content

      International investors are alert to signs that Erdoğan is finally addressing the country’s ills

      Turkish President Tayyip Erdogan
    • Thursday, 27 July, 2023
      Turkish central bank predicts inflation will soar close to 60% by year-end

      Central bank has doubled interest rates in past two months but many economists say more must be done

      Hafize Gaye Erkan
    • Wednesday, 26 July, 2023
      Interview
      Turkish economy past ‘the worst’, says Erdoğan business ally

      Rönesans chief Erman Ilıcak tells FT he is ‘very optimistic’ about shift away from inflationary policies

      Erman Ilıcak
    • Thursday, 20 July, 2023
      Turkey lifts rates for second consecutive month

      Central bank raises 1-week repo rate by 2.5 percentage points to 17.5% but limited increase prompts concerns

      People walk past a currency exchange office in Istanbul
    • Wednesday, 19 July, 2023
      Turkey
      UAE and Turkey sign multibillion-dollar agreements

      Erdoğan seeks support for economy with trade and business deals and backing for earthquake reconstruction

      Recep Tayyip Erdoğan, left, and UAE leader Sheikh Mohammed bin Zayed al-Nahyan on Turkish president’s tour of Gulf state
    • Tuesday, 18 July, 2023
      Saudi Arabia agrees deal to buy Turkish drones

      President Recep Tayyip Erdoğan drums up business as he embarks on Gulf tour

      Turkey’s president Recep Tayyip Erdogan pictured shaking hands with Saudi officials during a welcoming ceremony in Jeddah
    • Sunday, 16 July, 2023
      Turkey triples petrol taxes as Erdoğan tries to repair public finances

      Measure prompts concerns over higher inflation after increases in value added tax

      A driver puts petrol into their car
    • Wednesday, 12 July, 2023
      Turkish politics
      Erdoğan looks west as Turkish economy stutters

      Backing Sweden’s Nato bid is part of Ankara’s effort to ease tensions and unblock trade

      Turkish president Recep Tayyip Erdogan and Swedish prime minister Ulf Kristersson shake hands at Nato secretary-general Jens Stoltenberg looks on
    • Friday, 7 July, 2023
      Turkey
      Turkey lifts taxes to help pay for earthquake rebuild

      Reconstruction cost of southern region hit by twin tremors in February could reach $100bn

      Collapsed buildings in Antakya
    • Thursday, 6 July, 2023
      Foreign investors pile into Turkey’s stock market since election

      Overseas buyers scoop up $1bn of equities following Erdoğan’s overhaul of economic team

      Borsa Istanbul
    • Tuesday, 4 July, 2023
      Middle Eastern politics & society
      Turkey and Egypt upgrade diplomatic ties as relations thaw

      Ambassadors appointed to each other’s capitals for first time in a decade after rupture over coup in Cairo

      Turkish president Recep Tayyip Erdoğan and his Egyptian counterpart Abdel Fattah al-Sisi, shaking hands at the football World Cup in Qatar last year
    • Monday, 3 July, 2023
      Turkey’s trade deficit falls 35% in sign of cooling economy

      Drop in imports last month reflects sharp devaluation in lira, which hit record low against dollar on Monday

      The port of Izmir in Turkey
    • Monday, 26 June, 2023
      FT News Briefing podcast10 min listen
      Wagner’s 24-hour coup

      Greek leader Kyriakos Mitsotakis is set for a landslide win and a comeback as prime minister

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