Finance

Finance

Deloitte upgrades Turkey’s 2014 growth outlookDeloitte increases its growth outlook for Turkey above previous estimates

Deloitte, one of the "Big Four" professional services firms, has upgraded Turkey’s growth estimates following a robust first quarter and a shrinking deficit.

It upgraded the estimate for year-end growth from between 2 and 2.5 percent to 3.5 percent.

Deloitte Turkey economist Murat Ucer said Turkey’s 4.3 percent... Add a comment

Finance

Turkey's unemployment rate at 9 percent in AprilThe number of people out of work in Turkey by 168,000 in April to 2.57 million, same level as end of last year.

The number of people out of work in Turkey has fallen by 168,000 in April to 2.57 million, the same level as at the end of last year, official figures show.

The unemployment rate now stands at 9 percent of the adult working population, the country's statistics agency, TurkStat... Add a comment

Finance

Turkey's treasury auctions bonds to reduce debtsA total of 4.7 billion Turkish liras ($2.2 billion) released in auctions to cut domestic debt.

Turkey's Treasury has held two bond auctions worth 4.7 billion Turkish liras ($2.2 billion).

The auction on Monday came as the Treasury continued with plans to pay back 44.2 billion Turkish liras ($21 billion) of domestic debt for the period from July to September 2014.

The Treasury said in a... Add a comment

Finance

Turkey: Trade survey foresees fall in exportsAccording to the Foreign Trade Expectations Survey by Ministry of Economy, export expectation index decreased by 3 points to 113.7 from 116.7 for the third quarter of 2014, while import expectation index increased by 6.2 point to 11.3 compared to the previous quarter.  

Import expectation index sees a 6.2 point increase, according to a survey conducted by Economy Ministry.

Turkey's export... Add a comment

Finance

Turkey's privatization revenue $1.6 billion this yearTurkey has earned $1.6 billion from 116 privatization tenders so far this year.

The total amount of completed privatization processes in first half of 2014 exceeded $1.6 billion, official data shows.

According to data collected from Privatization Administration, Turkey earned more than $1.2 billion from 116 privatization tenders so far this year.

The largest privatization of this year was... Add a comment

Finance

Turkey's current account deficit lowers againTurkey's current account deficit shrunk for the fifth consecutive month, beating expectations.

Turkey's current account deficit in May declined to US$3.4 billion - a much lower figure than experts forecast, according to data released by Turkey's Central Bank on Friday.

Central Bank of Turkey announced the current account deficit in May 2014 at $3.4 billion, $0.6 billion lower than Anadolu... Add a comment

Finance

Turkey to establish stronger trade, investment ties with S. Korea and Japan In a drive to further deepen its economic and commercial ties with Asian economies, Turkey has made considerable progress in boosting trade with South Korea and Japan. 

The first step towards an economic cooperation agreement with Japan has been taken while the existing free trade agreement (FTA) between South Korea and Turkey will soon cover investment and services sectors.

“Turkey and... Add a comment

Finance

Turkey's deficit may hit its lowest level in four yearsTurkey's current account deficit, which has continuously dropped since the beginning of 2014, is expected to fall to its lowest level of the past four years, economists say.

Turkey's current account deficit is expected to fall to $45-50 billion at the end of 2014, the lowest level for the last four years, analysts have claimed.

However, Turkey faces risks ahead if regional instability... Add a comment

Finance

Japan agency says Turkey's credit rating outlook stableJapan Credit Rating Agency confirmed Thursday Turkey's current credit status and said the country's outlook is stable. 

Turkey's rating is BBB-/BBB- which the agency said is supported by the country's relatively developed economy, which is bigger than Middle Eastern neighbors with a Gross Domestic Product -- a measure for economic output -- per capita exceeding $10,000. 

It added that... Add a comment

Finance

OECD upgrades yearly Turkish growth estimate to 3.3%The Paris based monitoring group revised in its bi yearly Economic Survey of Turkey after increasing exports which produced 4.3 percent growth in the first quarter of 2014.

The Organization for Economic Cooperation and Development lifted Thursday Turkey's growth forecast to 3.3 percent for this year from its previous estimate of 2.2 percent in its May economic outlook report.

The OECD... Add a comment

Finance

“Amerika ile ticaretimiz potansiyelinin altında”Trade relations between Turkey and the U.S. increased by $14 billion in the past decade but is still not meeting its potential, says Turkey's EU minister.

Trade relations between Turkey and the U.S. increased by $14 billion in last decade but the potential remains for further growth, Turkey's EU Minister Mevlut Cavusoglu said on Thursday. 

Having met Turkish-American Business Association... Add a comment
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