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Tag Archives: Economy

Turkey Gearing up to Produce Domestic Car Brand

The Prime Minister of Turkey recently announced his ambitions to build a 100% domestic car brand, but when examined more carefully this idea is quite challenging, as all the parts need to be produced domestically. Turkey last tried to produce its own automobile brand in 1961, but only made four...

Posted on 22 April 2011

Turkish Exports Increase in March

Turkish exports grew 22.8% year on year in March according to the latest figures from the Turkish Exporters Assembly (TIM), taking the monthly total to $11.7 billion. According to the data, the majority of the exports ($1.4 billion) came from the car industry. TIM chairman Mehmet Buyukeksi said that these...

Posted on 07 April 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

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

Turkish Airlines Now Fourth Largest Carrier in Europe

This year Turkey has been named as the number one hottest investment destination by Write About Property and the number one tourism destination by Homes Overseas. To add to this list of accolades: Turkish Airlines is now the fourth largest flagship airline in Europe after Lufthansa, Air France and British...

Posted on 06 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

Turkish Property Boom Finally Hears the B Word

Well it finally happened, the word bubble was mentioned in relation to the Turkish property boom, but no, we aren't going to argue against it. This is because caution over whether the boom is a bubble has led to banking regulator the BRSA capping the maximum loan to value at...

Posted on 30 December 2010

Turkey: the Fastest Growing Economy in Europe Growing Beyond Expectations

Ali Babacan, the Turkish Minister for the Economy has said that the massive increase in the industrial production index for October means that the government's economic growth forecast for 2010 must be revised upwards. "Industrial output increased by 9.8 percent in October. The recovery in Turkish industry started in October...

Posted on 10 December 2010

Ankara Leaves Property Tax Value Unchanged, Calls on Poland’s Support for EU Bid

Turkish property owners or those currently purchasing a property in Turkey will be glad to hear that the government has decided not to increase the value it holds on their property for taxation purchases, and so the rate at which they pay tax against the property will not go up...

Posted on 09 December 2010

Turkish Employment to be Boosted Massively by Turkish Silicon Valley

Nihat Ergün, Turkish minister for industry and trade has said that Turkey's first “Silicon Valley” will be based between Kocaeli and İstanbul. Publication Today's Zaman has learned that the valley will be span 1100 acres of land, in what is recognised as the most industrialised region of Turkey. Ergün said...

Posted on 05 November 2010