Turkish economy

Erdogan: Turkey on path to ‘unstoppable power’ in region

Turkish president throws his lot in again with Russia and Iran in Syria, expands plans for influence in North Africa and moves to convert the Hagia Sophia back into a mosque.

Week in Review | Turkish economy | Jul 10, 2020
al-monitor People pose in front of a placard depicting Turkish President Recep Tayyip Erdogan and Ottoman Sultan Mehmet II, also known as Mehmet the Conqueror, outside Istanbul's famous Hagia Sophia on July 10, 2020, in Istanbul. Turkey's top administrative court has annulled a 1934 decree that turned the historic Hagia Sophia into a museum, opening the way for the structure to be converted back into a mosque. Photo by Photo by Burak Kara/Getty Images.

Foreign investors flee Turkey, Ankara’s isolation grows

An exodus of foreign investors has aggravated Turkey’s economic woes and could prove disastrous for the AKP’s political future.

Mustafa Sonmez | Turkish economy | Jul 10, 2020

Turkey’s ‘peg-legged’ foreign currency reserves

Turkey’s central bank appears increasingly fragile, with more than 60% of its reserves secured through swap deals.

Mustafa Sonmez | Turkish economy | Jul 6, 2020

Is Turkey’s wealth fund becoming a crisis shelter?

More company rescues could be imminent in Turkey after the sovereign wealth fund acquired the control of a leading mobile phone operator at the expense of further borrowing.

Mustafa Sonmez | Turkish economy | Jun 22, 2020

Turkey’s economic turmoil imposing early polls on Erdogan

Grappling with economic strains that might grow worse down the road, Turkey’s president faces an early election conundrum.

Mustafa Sonmez | Turkish economy | Jun 15, 2020