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Category Archives: Politics

Turkey Renews Call on EU to Lift Visa Requirements

The chief negotiator and European Union Minister for Turkey, Egemen Bagis, has once again called on EU executives to lift visa requirements for Turkish citizens. Bagis has formally written to European commissioners and the European Parliament as well as the European media, members of non-governmental organisations and think tank organisations,...

Posted on 05 April 2012

Urban Renewal Programme Under Starter’s Orders

Turkey is about to embark on a $100 billion urban renewal programme, which will reinforce or demolish buildings susceptible to earthquakes. It's due to begin in Istanbul in either April or May, and the transformation will encompass four major districts within the province. The bill for the project was recently...

Posted on 10 March 2012

Reciprocity Bill Drafted and Up for Discussion

The Turkish government has just finished drafting a new bill to further open up the property market to foreign buyers, as well as making purchases easier for foreigners. The most important thing in the bill is that it is set to end the reciprocity requirement on foreign purchases, thereby allowing...

Posted on 26 January 2012

New System Protects Foreign Heirs’ Real Estate Inheritance

A new system aimed at preventing the heirs of foreigners who own property in Turkey from being fraudulently divested of their inheritance in the event of the deaths of said owners. Antalya Provincial Treasurer Hidayet Mat, said that, although it does not happen often, occasionally foreigners have been cheated out...

Posted on 10 August 2011

Newly Empowered AK Party Could Get EU Accession Back on Track

Now nearly one week past the Turkish election and not a peep of controversy or complaint at the result, we can safely say that the election was a success, especially given that 87% of the voting public turned out and cast their vote. Prime Minister Erdogan of the Justice and...

Posted on 17 June 2011

Turkey Deserves Ratings Upgrade Says Leading Figure

Turkey has long deserved an ratings upgrade, after its performance throughout the financial crisis, as well as its being one of the most stable economies in Europe and the world in its aftermath. These are not our words, but those of Vedat Akgiray, the chief of the Capital Markets Board...

Posted on 16 June 2011

With Turkish GDP Up 8.9% in 2010, Can Erdogan Keep his Grip on Inflation?

Turkstat has just revealed its data on GDP growth for 2010 and the final figure was 8.9%, considerably higher than the 6.4% reported by Prime Minister Erdogan at the start of the year. According to the data, the Turkish economy grew 9.2% in the fourth quarter, following growth of 11.3%,...

Posted on 01 April 2011

Turkey Continues to Increase Ties with Russia as EU Frustrates

This week saw Turkey and Russia sign a mutual agreement on the readmission of illegal immigrants, which is seen as the final hurdle to the enactment of the visa-free travel deal agreed by the two last May. Turkey is an extremely popular holiday destination for Russians with over 3 million...

Posted on 21 January 2011

Turkish Budget Deficit Shrank 24.9% in 2010

Turkish finance minister Mehmet Simsek has announced that the budget deficit dropped by 24.9% in 2010. Turkey’s continued good news on the economic front continues to increase the likelihood that it will be bumped up to investment grade status this year. The announcement, coming as it does amidst an EU...

Posted on 20 January 2011

Inflation Hits 41 Year Low as Economy Grows 6.4%

Turkish inflation fell to 6.4% in 2010, a 41 year low. While the fact that 2010 total GDP growth matched that figure is brilliant, it is most likely that history will reflect on the inflation as the most important achievement in Turkey's economic development. History will remember the 2001 financial...

Posted on 04 January 2011