Mehmet

Historic Edirne Palace dock set to be unearthed

The dock of Edirne Palace, constructed by Ottoman Sultan Mehmet the Conqueror in 1452 along the Tunca River, is set to be unearthed.

Renovations of Edirne Palace, overseen by the National Palaces Department, continue as part of broader restoration efforts. As part of this work, excavation is also underway along the Tunca River, where the palace dock is located.

Turkish economy expands by 2.5 percent in second quarter

The Turkish economy grew by 2.5 percent in the second quarter of 2024, cooling from a revised 5.3 percent expansion recorded in the January-March period, data from the Turkish Statistical Institute (TÜİK) have shown.

"We have left behind a difficult period in which we significantly reduced vulnerabilities," Finance Minister Mehmet Şimşek commented on the growth data.

Traces of ancient settlement discovered in eastern mound

Traces of a settlement dating back about 6,000 years have been found during excavations at Değirmenler Mound in the eastern province of Erzurum.

Starting on July 1, the two-month excavation in the area has uncovered settlement layers, human and animal bones, and ceramics, which are being analyzed.

August annual consumer inflation seen at 55.2 pct: Survey

Türkiye's annual inflation rate is expected to decrease to 55.2 percent in August, down from 61.78 percent in July, according to an Anadolu Agency poll of economists.

The survey found that the monthly inflation rate is projected to be 2.64 percent for August, a decrease from 3.23 percent in July.

The economists' forecast for year-end annual inflation is 42.84 percent.

Türkiye’s foreign trade deficit plunges 42 percent in July

Türkiye's foreign trade deficit declined by 41.8 percent year-on-year in July to $7.3 billion as exports rose and imports dwindled, data from the Turkish Statistical Institute (TÜİK) have shown.

Exports amounted to $22.5 billion last month, increasing 13.8 percent from July 2023, but imports plunged 7.8 percent annually to $29.8 billion, TÜİK said on Aug. 28.

Ministry identifies 700,000 tax evaders in rental income sweep

In a sweeping effort to combat tax evasion, Türkiye's Treasury and Finance Ministry has identified approximately 700,000 taxpayers who failed to declare their rental income, despite being reminded to do so.

The crackdown comes as a part of a broader initiative to reduce informality in the economy and ensure tax compliance across the country.

Türkiye becoming center of attraction for global investments

Türkiye is poised to become a major hub for global investments, particularly attracting international carmakers with various projects and production programs launched in recent years.

Türkiye aims to increase its share of global foreign direct investments (FDI) to 1.5 percent by 2028, Finance Minister Mehmet Şimşek has said.

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