Country’s automakers have suffered output disruptions caused by global lack of semiconductors for more than a year and a half.
Six months after the beginning of the Russian invasion, the “Devil’s Dance” of Western sanctions and Russian oil exports and revenues has barely begun. The main contest still lies ahead.
Country leapfrogs Brazil with the launch of the iPhone 14 models, with the Erdogan administration’s indirect taxes meaning the consumer must pay at least $1,700 for one of the latest-generation smartphones.
Global inflation was generally moderating when the pandemic began, and the downward trend continued into the early months of the crisis. But surging prices since late 2020 have pushed inflation higher than in all of the last five years combined.
Soaring inflation, rate hikes and a stronger dollar are reminiscent of the early 1980s – a decade that brought a wave of EM sovereign debt crises. This year has already seen Sri Lanka default, hit by an external liquidity crisis.
President Erdogan offers Turkey’s support to resolve critical situations that threaten stability in the Western Balkans, but what can Ankara achieve in the region?
The European Central Bank has decided on the largest rate hike since the start of the monetary union and has given the impression that it is fully determined to do more on September 7.
Strongman issued menacing veiled threat to Athens, saying Turkey could "come all of a sudden one night". Analysts wonder how far he could go in an election year.
Closing an exit route. Plus: solicitous Russians and electricity exports. Eurasianet’s weekly Turkmenistan briefing.
Potentially explosive anomalies caused by the Erdogan administration’s curious economic policies continue to manifest.
Country stays in sixth place in global inflation league.
While there are short-term fluctuations in interest rates caused by economic circumstances and central bank policies, there are also long-term structural trends affecting interest rates.
Europe has approached Azerbaijan as a source of additional gas to eliminate more Russian imports. But how much extra gas the country may provide, beyond the 10 bcm per year it is already sending, will depend on exploration results and Turkish assent.
Investigation finds directions to newsrooms “often come from officials in the government’s Directorate of Communications”.
Survey shows clearly challenging market conditions, with weakness in both domestic and export markets.
Those who want to see the back of Turkey’s president of two decades at the polls risk “underestimating the skills of a political animal”, says Yavuz Baydar.
Fugitive former mafia boss, who’s been struggling for scoops, has got his cat back among the pigeons.
Turkey has made gains in areas including trade, tourism and real estate and has doubled imports of Russian oil since declining to join sanctions response to Ukraine invasion.
In Istanbul, diesel up 258% y/y and gasoline higher by 173% y/y.
Europe is facing its worst drought for 500 years, as the European Commission has warned that nearly half of the EU’s territory faces severe water shortages in August, as climate change has caused low rainfall levels and record-high temperatures.