ECONOMY

EU Council raises Turkey’s GDP growth forecast for 2019

European Council’s report, “Autumn 2019 Economic Forecast,” raised its growth expectation for Turkey’s GDP this year from minus 2.3% to 0.3%. The report, of which previous version was released last Spring, also expected that the Turkish economy will grow 3.1% in 2020 and 3.5% in 2021. Meanwhile, the report’s previous 2020 forecast for GDP growth was 3.9%. “The economy recovered ...

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Annualized current account widens to highest surplus ever

Having dropped dramatically since last year before recording a monthly surplus two times in a row in June and July, Turkey’s current account balance has also posted a surplus in August and led to the annualized current account surplus widening to a record in the month. The balance posted a surplus of $2.6 billion in the month, the Central Bank ...

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Turkey rises in World Bank’s business index

Turkey has jumped up 10 places to be 33rd among 190 nations in the World Bank’s Ease of Doing Business Index released on Oct. 24, the country’s vice president said. In a statement, Fuat Oktay said that Turkey has gained an important achievement in the economic field as well, along with the achievements gained both on the ground and at the table, referring to the ...

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Turkey could achieve greater stability in 2020

ANKARA- Turkey could experience greater stability in 2020, said the credit ratings agency Fitch . “Fitch expects the recovery and rebalancing of the economy to continue, with growth strengthening, inflation falling and the current account deficit contained,” the agency said in report on the outlook of emerging European countries. The report stressed that with no national elections due until 2023, 2020 provides an opportunity ...

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The chemicals sector undersigns one success after another

According to data from Istanbul Chemicals and Chemical Products Exporters’ Association (IKMIB), the chemicals sector broke a record in 11 months of 2019 with the export value of 18.8 billion U.S. Dollars it achieved. Continuing the year as the second sector with the highest export, the chemicals sector achieved one success after another. The sector also came forward with its ...

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Food Exporters increased their target in the Russian market

The goal in exporting food to Russia is exceeding 1 billion dollars The food industry, leaded by the Agriculture and Forestry Minister Dr. Bekir Pakdemirli, visited Russia, which is the sole country considered as the target market of all exporting industries in Turkey, for settlement of problems experienced in exportation operations. In a 9-month period, the Turkish food industry exported ...

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Green olive is the star of table olive exportation

Turkey had a successful head start in 2018-19 season of table olive exportation. The first quarter of the season is over and exportation of table olive has increased by 23 % and reached 41 million 564 thousand dollars. In the table olive exportation segment, exportation of green olive has increased by 85 percent and exportation of black olive has increased ...

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Turkish fruit juices sweeten the mouth of the world

The world’s mouth is sweetening Turkish juices. Turkey’s exports of fruit juice grabbed 30 percent export growth rate in the amount of $ 279 million in 2018 and was the star of the export of fruit and vegetable products in the industry. Fruit juice exports in 2017 was $ 214 million. As Turkey exported fruit juice to 150 countries, fruit juice exports ...

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Metropolitan Municipality of Bursa increases and diversifies its investments in Yenişehir

Bursa Metropolitan Municipality of Bursa initiates a series of investments in Yenişehir in order to give an impetus for the urban and rural development of the region. Recep Altepe, Mayor, Metropolitan Municipality of Bursa said, “We increase our infrastructural investments, totalling 225 million TL, in Yenişehir, thereby paving the way placing utmost importance for the welfare of the citizens.” Metropolitan ...

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Bursa would serve as an ideal and remarkable thermal tourism center of the region more than ever

Recep Altepe, Mayor, Metropolitan Municipality of Bursa: We are determined to upgrade the tourism potential of Bursa by increasing the thermal water capacity and infrastructure. We put particular emphasis on a series of new investments directed to thermal tourism. Recep Altepe, Mayor, Metropolitan Municipality of Bursa said, “Bursa, which is a member of the European Historic Thermal Towns Association (EHTTA), ...

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