Turkey has entered the third phase of its economic program, Minister Mehmet Şimşek says, with goals of single-digit inflation, stronger fiscal discipline and sustainable growth supported by reforms an...

Shopping malls in Turkey remain crowded, but spending data reveals a different reality—visitor numbers stay high while real purchasing power weakens and consumption grows more cautious under inflation...

As negotiations over Turkey’s 2026 minimum wage begin, the government emphasizes balance and sustainability while labor unions demand compensation for rising living costs and inflation-driven income l...

TÜİK announced November’s inflation at 0.87%, while ENAG reported a monthly increase of 2.13% and annual inflation of 56.82%. Here are the latest inflation details and yearly trend overview.

Intensified Chinese competition taking a toll.

Turkey’s Treasury and Finance Minister Mehmet Şimşek announced that the government’s economic program is showing results. Şimşek emphasized progress in inflation control, employment growth, and foreig...

Borsa Istanbul surged over 4% as the BIST 100 index broke above 11,000 points, led by strong gains in banking stocks and supported by domestic and global developments ahead of key U.S. inflation data.

Investing.com -- Turkey’s economy coordination board announced on Monday it has decided on measures to enhance government savings, tax equity, and combat the unrecorded economy as part of its medium-term economic program. The board stated that "concrete steps have been determined" focusing on several key areas. These include savings measures aimed at increasing efficiency and productivity in government spending, strengthening justice in the tax system, and fighting against the informal economy. Following its meeting, the board also confirmed that Turkey would continue implementing structural reforms across multiple sectors. These reforms will target areas including inflation control, fiscal discipline, energy policy, and labor market improvements. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?

(Reuters) -Turkey’s economy expanded 2.0% in the first quarter of the year, below expectations, official data showed on Friday. First-quarter gross domestic product (GDP) grew 1.0% from the previous quarter on a seasonally and calendar-adjusted basis, data from the Turkish Statistical Institute showed. In a Reuters poll, the economy was forecast to have expanded 2.3% in the first quarter. Turkey’s economy had grown 3.0% year-on-year in the fourth quarter of 2024, bringing full-year growth to 3.2% and exceeding forecasts despite the weight of high interest rates. Economists forecast an expansion of 3% in 2025 as a whole, slightly lower than last year, the poll showed, reflecting the effects of monetary tightening. In April, Turkey’s central bank hiked its policy rate by 350 basis points and raised the lending rate to 49% in response to market turmoil that erupted over the arrest of Istanbul Mayor Ekrem Imamoglu, President Tayyip Erdogan’s main political rival.

ISTANBUL (Reuters) - Turkey’s monthly inflation rate is expected to be 2% in May, impacted by higher clothing and fruit prices, with the annual rate seen falling to 36.1%, a Reuters poll showed on Wednesday. Economists said a rise in fruit prices due to agricultural frost and a new season in clothing will be the main drivers of May inflation as well as automotive prices, which are directly impacted by currency volatility. The median estimate of ten economists showed monthly inflation dropping to 2% from 3% in April. Forecasts ranged from 1.85% to 2.75%. Year-on-year, inflation is seen sliding to 36.1%, with forecasts ranging between 35.8% and 37%. Turkey’s statistics institute predicts fruit production will fall around 25% this year due to frost. "May is a month of clothing price hikes, so we predicted a monthly increase of around 5%, but we may see an upward risk in clothing," said Hande Sekerci, chief economist of Is Portfoy. Sekerci said that due to discounts in some items the moderate course in food prices was continuing despite recent frosts and that core inflation will follow a more positive path in May with household goods, health and housing items on a calm course. In March, Turkish assets suffered, with the lira touching a record low against the U.S. dollar after Istanbul Mayor Ekrem Imamoglu - Erdogan’s chief political rival - was jailed pending trial, over graft charges that he denies. The market volatility was stabilised by a central bank rate hike and liquidity steps. The central bank sold some $57 billion in foreign currency and took steps to tighten policy by 700 basis points. The central bank has bought some $13 billion in forex to rebuild reserves in the last three weeks, while it kept the overnight interest rates in the market at 49%, the upper band of its rate corridor. Last week, the central bank kept its year-end forecasts steady in its quarterly inflation report saying upward and downward risks to inflation balance out. Governor Fatih Karahan said the bank is ready to tighten policy if inflation worsens. Inflation is seen dropping to around 30% at the end of this year according to the poll median, higher than the central bank forecast of 24%. Following the volatility and its impact on inflation due to FX-pass through, economists have revised up year-end inflation forecasts since March despite steps taken by the central bank. The low course of global energy prices amid trade war concerns was the main factor limiting upward revisions in inflation, and the year-end estimate in this poll period was revised slightly downwards. The Turkish Statistical Institute will release May inflation data at 0700 GMT on June 3.

Turkey’s financial markets are reeling after the detention and arrest of Ekrem İmamoğlu, the mayor of İstanbul, in a government-led