TR Economy & Updates

[Bozan]

I think everything is already baked in w.r.t US-Turkiye (w.r.t Israel - Palestine, Hamas et al.). US and West are more looking at internal sources of finance for Hamas.

BTW I just saw that TR Lira essentially was held to a ceiling till the Election this year (May 14th - May 28th)...and then after it a big valve was released.

View attachment 62950

On Erdogan's orders

 

[Rodeo]

https://twitter.com/i/web/status/1727644475235655998

 

[Rodeo]

https://twitter.com/i/web/status/1727644475235655998

In September 2021, the interest rate was 19% and the US dollar exchange rate was 8.82TL. From that date on they started their "unorthodox"(downright stupid) economical policies and reduced the interest rates time after time after time while the inflation was on a never ending spike. Today the interest rate is 40% and $1US = 28.8TL. The inflation rate of 2022 was more than 100%.

What was this experiment for? Generations of people, mostly the youth, are perpetually damaged. They will have lifelong trust issues with our national currency. People will have aversion towards Lira that will continuously contribute to inflation for decades to come.

 

[Deliorman]

You doubt the decisions of some people that are lead by a person who is an alumni of Marmara University's Faculty of Economics?

 

[Spitfire9]

https://twitter.com/i/web/status/1727644475235655998

I follow the $US/Turkish lira exchange rate from time to time. I notice that earlier today the lira strengthened 0.33% against the dollar. Just now it has strengthened 0.03%. The interest rate hike does not seem to have brought back confidence in the lira.

 

[TheInsider]

The new economy admin is doing well. I expect the rate increase to stop at %45.

 

[fushkee]

So what about Nas? Everything was for nothing in the past???
As always, nobody will account for that!!!

 

[B_A]

TURKSTAT Corporate

data.tuik.gov.tr

 

[B_A]

In September 2021, the interest rate was 19% and the US dollar exchange rate was 8.82TL. From that date on they started their "unorthodox"(downright stupid) economical policies and reduced the interest rates time after time after time while the inflation was on a never ending spike. Today the interest rate is 40% and $1US = 28.8TL. The inflation rate of 2022 was more than 100%.

What was this experiment for? Generations of people, mostly the youth, are perpetually damaged. They will have lifelong trust issues with our national currency. People will have aversion towards Lira that will continuously contribute to inflation for decades to come.

You doubt the decisions of some people that are lead by a person who is an alumni of Marmara University's Faculty of Economics?

During the covid period we have to lower some interest to support the economy likes the Japanese done.

But Erdogan and AKP done too much things to destroyed the trust of market in 2016-2020…..

 

[Spitfire9]

The new economy admin is doing well. I expect the rate increase to stop at %45.

While the spot rate of the lira has continued to weaken against the dollar since the interest rate rise to 40%, I have noticed that the 2 year forward rate (was 54+ to the $ a few weeks ago) is now 50+ to the $. Would another interest rate hike be necessary or is it being raised to reduce the inflation rate?

 

[TheInsider]

While the spot rate of the lira has continued to weaken against the dollar since the interest rate rise to 40%, I have noticed that the 2 year forward rate (was 54+ to the $ a few weeks ago) is now 50+ to the $. Would another interest rate hike be necessary or is it being raised to reduce the inflation rate?

It is to combat inflation and show the market that CB won't give an inch at all costs. IMHO %45 is the sweet spot. I don't think CB will stop the interest rate increase before seeing any meaningful improvement in the 1-year forward rate.

 

[Bozan]

https://twitter.com/i/web/status/1730244098802569236

"We would like to reanchor TR firmly to the European Union" - Mehmet Himself



The DEVA member is correct:

https://twitter.com/i/web/status/1730322657759908072

 

[YeşilVatan]

DEVA clowns are wrong in every single instance. Even when they are not connected to the topic or even if the debate itself doesn't exist.

They're wrong. They don't have a right to anything in my eyes. Lowest of the low. They need to be ostracized from the society with great fervor.

 

[Heartbang]

DEVA clowns are wrong in every single instance. Even when they are not connected to the topic or even if the debate itself doesn't exist.

They're wrong. They don't have a right to anything in my eyes. Lowest of the low. They need to be ostracized from the society with great fervor.

If Babacan came into power he'd make us "eat ze bugs." He's a notorious Schwabite.

 

[Strong AI]

62 percent inflation, 40 percent interest rates and a weak lira: That's why the Turkish economy is still booming​

• Turkey currently plays a special role in the global economy: inflation is 62 percent and the key interest rate is 40 percent. The lira is one of the weakest currencies in the world. But at the same time the economy is growing strongly.
• According to the OECD, Turkey will be one of the industrialized countries with the greatest economic growth in 2023, with a plus of 4.5 percent. The rating agency S&P just raised its outlook for Turkey's creditworthiness.
• President Recep Tayyip Erdogan's 180-degree turnaround appears to be taking effect.

Türkiye's economy is like dancing on a volcano. People are groaning under 62 percent inflation. The lira is one of the weakest currencies in the world. In the fight against decline, the central bank raised the key interest rate to 40 percent. It wouldn't be surprising if the economy were in ruins. But on the contrary: the OECD has just raised the forecast for Turkey for 2023 to 4.5 percent. The country on the Bosphorus is currently one of the fastest growing countries in the world.

Turkey remains a phenomenon. For a long time, President Recep Tayyip Erdogan caused people to shake heads with his economic policy. When prices rose sharply in Turkey, he demanded that interest rates be reduced. He replaced those in the central bank and the finance ministry who did not want to follow his “Erdoganomics” with willing followers. As a result, inflation rose to an incredible 85 percent in 2022. The local currency, the lira, fell into decline. Only the Argentine peso recorded larger losses.

After his narrow victory in the presidential election in February, Erdogan surprised again, this time with a 180-degree turnaround. He brought back former Finance Minister Mehmet Simsek. Erdogan had previously temporarily replaced the economist with his son-in-law. At Simsek's suggestion, he made Wall Street-trained banker Hafize Gaye Erkan governor of the central bank - and vowed a return to economic reason.

The new guys got to work. Finance Minister Simsek increased numerous taxes in order to limit the budget deficit and cover the costs of the devastating earthquake at the beginning of the year. Erkan vowed the central bank to fight inflation and increased interest rates quickly, most recently on November 23, to 40 percent. Inflation initially continued to rise.

Türkiye: High inflation, weak currency​

On the one hand, the soft lira makes imports expensive for Turkey. This hits Turkey hard because it has to import over 95 percent of its energy and a lot of food. On the other hand, the state fueled prices with tax increases. Thirdly, the statutory minimum wage was increased by 100 percent within one year.

After inflation temporarily fell, it has picked up again since the summer. Now a climax seems to have been reached. In November, inflation rose again, but “only” from 61.4 to 62 percent. That was less strong than expected.

The rise in inflation has slowed. In a month-on-month comparison, prices only rose by 3.3 percent in November. In July and August the price increase compared to the previous month was almost ten percent.

The central bank has so far had less success with the lira. Despite all interest rate increases, the currency fell to a historic low of almost 29 lira to one dollar at the end of November. At the beginning of December the price was only slightly better at 28.90. Since the beginning of the year, the lira has lost almost a third of its value against the euro and the US dollar.

In view of the economic data, it was surprising when the industrialized countries organization OECD raised the growth forecast for Turkey again to 4.5 percent in its November outlook. In the G20 of the largest industrialized and emerging countries, only India, China and Indonesia are growing faster this year. Turkey is not only doing far better than recession-hit Germany, but also than any other European G20 country.

The OECD also expects Turkey to achieve growth rates of 2.9 percent and 3.2 percent in the next two years, despite horribly high interest rates. This is also more than in the OECD as a whole or the G20. And Turkey would definitely grow more strongly than Germany.

Erdogan's turnaround is also being noticed on the capital markets. Ratings agency S&P raised its outlook for Turkey's creditworthiness on Friday. She now assesses the country's prospects as “positive” instead of “neutral”. S&P left the rating at “B”. However, the positive outlook brings Turkey closer to an upgrade of its credit rating.

Three reasons for the Turkish economic miracle​

There are three main factors that keep the Turkish economy going or even give it new momentum.

The population is growing. Population growth is also decreasing in Turkey, but it is still 0.7 percent per year. Türkiye's economic performance is lagging behind per capita. The comparatively young population represents growth opportunities and a need to catch up in consumption. Companies like the Chinese online retailer Alibaba, which wants to invest billions in Turkey, also see this .

Turkey benefits from Russia's war against Ukraine. Erdogan has also criticized the war. However, Turkey is the only NATO member not to join the sanctions against Russia. On the contrary: Turkey has stepped into the breach as a customer and supplier to Russia. Trade between both countries is increasing. In the first eight months of 2023, Turkish exports to Russia grew by 63 percent. Russia thus replaced Germany as Turkey's largest trading partner.

Turkey has become a hub in trade with Russia. The EU warned Turkey at the end of 2022 not to support Russia in circumventing sanctions.

One of the sectors that is growing rapidly in Turkey is the defense industry. According to the peace research institute Sipri, the Baykar company increased its sales by 94 percent to 1.4 billion euros in 2022. Baykar climbed from 100th to 74th place among the largest defense companies in the world.

The ambivalent effect of the earthquake . The devastating earthquake at the beginning of the year in the border area with Syria initially set back economic performance in the region. Tens of thousands of people died, over a million people lost their homes, factories were destroyed or had to limit their production. But for months now, reconstruction has been causing a construction boom from which significant parts of the Turkish economy are benefiting.

Türkei: Die Wirtschaft wächst, obwohl Inflation steigt und Lira fällt

In der Türkei wächst die Wirtschaft trotz extremer Inflation, hoher Zinsen und der schwachen Lira – das sind die Gründe

www.businessinsider.de

 

[Lool]

Turkish unemployment levels is at its lowest level since 2012 and recorded at 8.5% of October

Turkey Unemployment Rate

Unemployment Rate in Turkey increased to 8.50 percent in August from 8.10 percent in July of 2025. This page provides the latest reported value for - Turkey Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar...

tradingeconomics.com

Turkey records its third current account surplus this year as well as its second consecutive current account surplus for the months September and October! As a result, Turkey's yearly current account deficit dropped by 9+ billion dollars by October

Turkey Current Account

Turkey recorded a Current Account surplus of 5455 USD Million in August of 2025. This page provides - Turkey Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

Simsek is saving Turkey while fulfilling Erdogan's desire of unhindered productivity and employment by ensuring that no severe recession takes place. Normally, these 2 aspects dont mix as with recession productivity goes down, and unemployment soars

Simsek is doing miracles rn

 

[TheInsider]

Turkish unemployment levels is at its lowest level since 2012 and recorded at 8.5% of October

Turkey Unemployment Rate

Unemployment Rate in Turkey increased to 8.50 percent in August from 8.10 percent in July of 2025. This page provides the latest reported value for - Turkey Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar...

tradingeconomics.com

Turkey records its third current account surplus this year as well as its second consecutive current account surplus for the months September and October! As a result, Turkey's yearly current account deficit dropped by 9+ billion dollars in October alone

Turkey Current Account

Turkey recorded a Current Account surplus of 5455 USD Million in August of 2025. This page provides - Turkey Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

Simsek is saving Turkey while ensuring that no severe recession takes place

Well, I told you. The new admin is doing good but the average Joe will feel some difficulties after local elections. Simsek is gearing up to cut the money supply after local elections. Expect inflation to come down as a result of cutting the money supply. There will be a price to be paid by the average citizen. I expect the interest rate increase to stop at somewhere around %45-50 depending on inflation data.

 

[Saithan]

It depends on how unemployment is calculated.

 

[B_A]

Turkish unemployment levels is at its lowest level since 2012 and recorded at 8.5% of October

Turkey Unemployment Rate

Unemployment Rate in Turkey increased to 8.50 percent in August from 8.10 percent in July of 2025. This page provides the latest reported value for - Turkey Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar...

tradingeconomics.com

Turkey records its third current account surplus this year as well as its second consecutive current account surplus for the months September and October! As a result, Turkey's yearly current account deficit dropped by 9+ billion dollars in October alone

Turkey Current Account

Turkey recorded a Current Account surplus of 5455 USD Million in August of 2025. This page provides - Turkey Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

Simsek is saving Turkey while fulfilling Erdogan's desire of unhindered productivity and employment by ensuring that no severe recession takes place. Normally, these 2 aspects dont mix as with recession productivity goes down, and unemployment soars

Simsek is doing miracles rn

Because the covid time was an abnormal period.

It was maybe a good tactic that appoint Simsek not during but after the covid time.

 

[Rodeo]

https://twitter.com/i/web/status/1735284910665916845