Economic crises

The Turkish Treasury borrowed some 10.7 billion Turkish liras ($1.75 billion) from domestic markets, according to an official statement on May 13.

Local hoteliers and tourism associations have welcomed the Turkish government's decision to extend the Ramadan holiday in early June to nine days, saying this could prove a boon to the industry and generate an additional 3 billion Turkish Lira income for the sector.

The Turkish Treasury's cash balance posted a deficit of 14.95 billion Turkish liras ($2.69 billion) in March, the Treasury and Finance Ministry said on April 5.

Turkish central government's gross debt stock stood at nearly 1.1 trillion Turkish liras (around $212 billion) as of Jan. 31, the Treasury and Finance Ministry announced on Feb. 20.

The Turkish Treasury will repay debts worth 66 billion Turkish Liras (around $12.7 billion) in the February-April period, the Treasury and Finance Ministry announced on Jan. 31.

Turkey's Halkbank has become the third state bank to declare a low-interest rate campaign for citizens to pay off their credit card debts.

Turkey’s textile industry foresees weaker demand in the domestic market as rising costs will push prices higher, but hopes to boost exports this year.

The house price index increased by 11.3 percent in October from a year earlier, data from the Central Bank showed on Dec. 18.

The consumer price index has seen a 21.62-percent annual hike in November, the Turkish Statistical Institute (TÜİK) said.

The surge in Turkey's annual inflation has been driven by rises in basic goods, food and energy prices, the Central Bank said in a monthly report released on Oct. 4.