Latest news and articles about turkish economy from NEX English
The court's decision to annul the 38th conference of the Republican People's Party has exerted significant pressure on the Turkish economy, leading to turmoil in financial markets. This ruling raises concerns about the political stability in the country.
The Bosphorus Strait in Istanbul recorded the passage of <strong>9,195 ships</strong> during the first three months of 2026, reflecting a significant increase in maritime traffic. This figure underscores the strait's importance as a strategic corridor in global trade.
The Turkish lira experienced a slight decline at the beginning of the week, trading at 44.87 against the dollar. This drop comes as markets await the central bank's decision on interest rates.
The General Directorate of Tea Enterprises in Turkey, known as 'Çaykur', has called on tea producers to comply with hand-picking standards and manage quota systems to ensure product quality. These recommendations aim to enhance the quality of local tea, a vital agricultural crop in the country.
Turkish Finance Minister Mehmet Şimşek stated that the ongoing war has negative effects on the global economy, including Turkey's. However, he assured that the government is capable of managing these shocks effectively.
Turkish Finance Minister Mehmet Simsek stated that the economic effects of the war will be temporary and reversible, provided the ceasefire between the U.S. and Iran holds. He emphasized that the current economic shock is the largest since World War II.
Turkish energy sector sources announced a reduction in fuel prices, with gasoline and diesel prices lowered by approximately <strong>10 lira</strong> per liter. This decision comes after the commencement of a truce between the <strong>United States</strong> and <strong>Iran</strong>.
Turkish bankers revealed that the central bank's budget for this week will show foreign currency sales reaching approximately <strong>$20 billion</strong>, raising the total sales to <strong>$45 billion</strong>. These figures reflect the ongoing efforts of the central bank to support the Turkish lira and enhance the stability of the national economy amidst current challenges.