Financial crises

Türkiye is expected to receive larger foreign capital and resource inflows next year as its economy becomes increasingly more stable and incentives investors, according to Erdal Bahçıvan, chairman of the board of directors of the Istanbul Chamber of Industry (İSO).

The profits of automotive companies listed on Borsa Istanbul plunged in the first nine months of 2024 even though vehicle sales remain robust.

Several factors, such as rising costs, a higher share of imported cars in the market and FX rates all eat into the auto companies' bottom line.

Not content with the upgrades, the government is moving ahead with another early repayment of public debt next Friday, aimed at further reducing it and relieving the state budget of 150 million euros in interest that it would pay until 2028 to the country’s lenders.

Per capita income is likely to exceed $15,000 at the end of this year, Finance Minister Mehmet Şimşek has said, reiterating that the government's economic program is yielding results.

A motion of no confidence has been filed by the New People’s Left Front and Le Pen’s far-right party. If passed, it would topple the Barnier government and prevent the approval of the 2025 state budget.

The pace of monthly and annual increases in retail prices in Istanbul slowed last month, according to data from the city's Chamber of Commerce (İTO).

Retail prices advanced 3.07 percent in November month-on-month, down from a monthly increase of 3.64 percent in October

The annual increase in retail prices eased from 59.1 percent to 57.99 percent.

Fitch Ratings reaffirmed Greece's credit rating at BBB- with a stable outlook, maintaining the rating it had assigned six months ago.

In its announcement, Fitch noted that Greece's ratings reflect higher-than-average per capita income levels and governance indicators among BBB rated countries, along with a policy credibility due to EU and eurozone membership.

The democratic process may empower dangerous demagogues but it can also bring about necessary reforms. And so, as Donald Trump returns to Washington, Germany appears to be moving towards loosening the "debt brake" which forbids the country from borrowing more than the equivalent of 0.35 percent of its GDP each year and impedes growth.

The decline in inflation is expected to continue in the coming period, Vice President Cevdet Yılmaz has said, noting that annual inflation has fallen by 27 points in the past four months.

"In mid-2025 or in the fall, we won't be talking about inflation anymore," Yılmaz said in a speech at a gathering with businesspeople in the province of Denizli.

Greece must revise its budget for 2025 because there is more money available than anticipated. This is due to the increased tax revenues and the early repayment of previously taken loans ahead of schedule.