Mehmet

The Turkish government has announced the removal of the "25 percent increase limit" on housing rents, effective on July 1.

The cap, which has been in place for the past two years to protect residential tenants amidst ongoing high inflation, limited the annual rent increase to 25 percent.

Finance Minister Mehmet Şimşek is expected to meet with representatives of major business organizations to brief them on the government's work on a tax package.

The tax bill aims to improve efficiency in tax collection and establish a more equitable tax system.

The international financial crime watchdog Financial Action Task Force (FATF) removed Türkiye from its "gray list" of countries that require special scrutiny on June 28.

"We succeeded," Turkish Treasury and Finance Minister Mehmet Şimşek wrote on X ahead of FATF's official announcement of Türkiye's removal - a long-awaited move that is expected to accelerate foreign investments.

Türkiye posted a foreign trade deficit of $6.5 billion in May, marking a significant 48 percent decline from the same month of last year, data from the Turkish Statistics Institute (TÜİK) have shown.

Exports, which fell 0.1 percent annually in the previous month, surged 11.3 percent from a year ago to stand at $24.07 billion.

The Treasury and Finance Ministry has announced that videos in which minister Mehmet Şimşek was impersonated using artificial intelligence to give investment advice have been removed from social media following numerous complaints.

In a statement on June 26, the ministry highlighted the growing threat of AI fraud, emphasizing it as "one of the most significant dangers of our time."

The ruling Justice and Development Party (AKP) has replaced the heads of its provincial organizations in seven cities a day after a five-hour meeting of its executive committee.

The party on June 25 announced the appointment of new provincial heads for Adıyaman, Afyonkarahisar, Erzincan, Gaziantep, Kastamonu, Osmaniye and Zonguldak.

Dozens of standup paddleboarders are flocking to sea cliffs in the southern province of Antalya, a common nesting site of the endangered monk seal, creating a potential danger for the animals, an expert has warned.

Treasury and Finance Minister Mehmet Şimşek met with main opposition Republican People's Party (CHP) deputy leader for economic affairs Yalçın Karatepe on June 24, marking a move in the ongoing "softening" and "normalization" period in the Turkish politics.

The meeting also included CHP secretary-general Selin Sayek Böke and deputy leader Volkan Demir.

Türkiye has recorded the highest annual increase in rent among European Union members and EU candidate countries, according to data from Eurostat.

Between May 2023 and May 2024, rents in Türkiye surged by 125.1 percent. Hungary came second with an annual increase of 12.8 percent in rent prices.

Türkiye's Central Bank will meet later this week to decide about its policy rate, the one-week repo auction rate.

Most economists expect the bank to keep its key rate steady at 50 percent when members of the Monetary Policy Committee (MPC) meet on June 27.