Economy of Turkey

This year will see stronger economic growth and lower inflation than 2014, Turkish Deputy Prime Minister Ali Babacan, who is responsible for the economy, predicted on Jan. 16.

In an interview with Anadolu Agency, Babacan said 2015 will be a better year than 2014 for the country's economy.

I will probably end up puking if I read one more overly-optimistic report about the positive impact of lower oil prices on the Turkish economy, and especially Turkey?s current account deficit ? its Achilles? heel.

Turkish trucks will pay lower fuel surcharges while crossing the border into Iran, according to an agreement signed between the two countries Jan. 15.

Due to fuel prices being cheaper in Iran, Turkish vehicles were ordered to pay a surcharge of 1.60 euros per liter to avoid the illegal transportation of fuel.  

Y?ld?z Holding, one of the largest sports sponsors in Turkey, has announced that it will withdraw from backing football, citing major excuses that also reveal the frustrating state of the beautiful game in the country.

Along with Turkey, targeting to rank among the top 10 economies of the world, Borsa ?stanbul's conversion on the way to becoming a global actor is in progress.  In addition to partnerships with global giants and regional exchanges, Borsa ?stanbul moves forward with Research & Development and innovation.

Turkey's main stock exchange, Borsa Istanbul, was ranked among the top five performers in the world in 2014, the exchange announced in a statement late on Jan. 5.

The BIST-100 Index was the best performing investment instrument based on its 2014 annual yields, with Borsa Istanbul investors gaining an average yield of 26.43 percent in 2014, said the statement.

Turkish Airlines expects reaching $12 billion in revenue and carrying 63 million passengers in 2015, as announced by a written statement late Dec. 31, 2014.

"By the end of 2015, the fleet size is planned to reach 293, including 214 narrow-body, 68 wide-body and 11 cargo aircrafts," said the statement.

Turkey will drop to the 19th place on the list of the world's biggest economies in 2014, from the 17th place in 2013, according to the World Economic League Table by the Center for Economics and Business Research (CEBR).

Turks still favor a timeless investment strategy: Buy gold and hide it somewhere safe, usually under a pillow or under the mattress.

"I don't understand modern investments like stocks and forex. Gold is my family's traditional investment, as my mother always encouraged me to buy gold for savings," says 36-year-old Selda Kırpınar in Ankara, who stores away her gold at home.

Sabancı Holding Retail Chief Haluk Dinçer is set to leave after six months at the helm of Turkey's top business organization.

Dinçer will not stand as a candidate for chairman at the annual congress of the Turkish Industry and Business Association (TÜSİAD) on January 22, 2015, Hürriyet has learned.