ECONOMY - Bianet

ECONOMY

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Central Bank Reduces Policy Rate to 12 Percent

Central Bank Reduces Policy Rate to 12 Percent

The bank reduced the one-week repo rate for the fourth time since July.

12 December 2019

İSİG Assembly: At Least 126 Workers Killed in Occupational Homicides in November

İSİG Assembly: At Least 126 Workers Killed in Occupational Homicides in November

According to the Health and Safety Labor Watch Report, 1,606 workers lost their lives in occupational homicides in 2019.

6 December 2019

Treasury Takes Over Majority Stake in State-Owned Vakıfbank

Treasury Takes Over Majority Stake in State-Owned Vakıfbank

The Treasury will take over Turkey's third-largest state-owned bank upon a Presidential Decree.

4 December 2019

Inflation Hits Double-Digit Figures Again: 10.56 Percent

Inflation Hits Double-Digit Figures Again: 10.56 Percent

According to the consumer and producer price indexes announced by the Turkish Statistical Institute (TurkStat), the annual consumer inflation has increased from 8.55 percent to 10.56 percent in November 2019.

3 December 2019

Turkey’s Economy Grows by 0.9 Percent in 3rd Quarter, Says TurkStat

Turkey’s Economy Grows by 0.9 Percent in 3rd Quarter, Says TurkStat

According to the Quarterly Gross Domestic Product (GDP) announced by the TurkStat, the economy of Turkey expanded by 0.9 percent in the third quarter of 2019. The GDP has increased by 11.5 percent, reaching 1 trillion 145 million 99 million TRY.

2 December 2019

Parliament Approves New Taxes on Digital Services, Accommodation, Housing Sales

Parliament Approves New Taxes on Digital Services, Accommodation, Housing Sales

The law aims to "collect more taxes from those earning more," according to the AKP.

22 November 2019

TurkStat Survey: 41.5 Percent of Workers Work Under Time Pressure

TurkStat Survey: 41.5 Percent of Workers Work Under Time Pressure

According to TurkStat survey on “Work Organization and Working Time Arrangements”, 41.5 percent of employees work under time pressure and 31.3 percent of workers are contacted on work matters out of their working time.

21 November 2019

Employment Decreases as Unemployment Rate Stands at 14 Percent in August

Employment Decreases as Unemployment Rate Stands at 14 Percent in August

The number of employed in August was 789 thousand less than the same month last year while the number of unemployed reached 4 million 650 thousand.

15 November 2019

Only One out of 10 Employees is Woman in Public Business Enterprises

Only One out of 10 Employees is Woman in Public Business Enterprises

The Ministry of Treasury and Finance has released the Public Business Enterprises Report 2018.

5 November 2019

Protest of Workers Bears Fruit: Safety Measures to be Taken at İstanbul Airport

Protest of Workers Bears Fruit: Safety Measures to be Taken at İstanbul Airport

The protest of 300 workers who halted work in protest of an occupational homicide at İstanbul Airport has borne fruit. The necessary safety measures requested by the protesting workers will be taken at the construction site.

4 November 2019

At Least 155 Workers Lose Their Lives in October

At Least 155 Workers Lose Their Lives in October

According to the figures announced by the Health and Safety Labor Watch, 1,477 workers have lost their lives in occupational homicides in the first 10 months of 2019. 155 workers, including two children and seven women, died in October.

4 November 2019

Annual Inflation in October: 8.55 Percent

Annual Inflation in October: 8.55 Percent

While consumer inflation has increased by 2 percent in comparison with the previous month, the annual inflation has been announced as 8.55 percent. The highest monthly increase has been recorded in prices of clothing and footwear with 11.70 percent.

4 November 2019

300 Workers Halt Work at İstanbul Airport in Protest of an Occupational Homicide

300 Workers Halt Work at İstanbul Airport in Protest of an Occupational Homicide

After 18-year-old worker Mehmet Aydın has lost his life by falling down an elevator shaft at İstanbul Airport, around 300 workers have halted work. "We will not start working until the necessary safety measures are taken", the workers have announced.

1 November 2019

Further Interest Rate Cut by Central Bank

Further Interest Rate Cut by Central Bank

The Monetary Policy Committee of the Central Bank has cut the policy rate by 250 basis points, thereby lowering it from its former level of 16.50 percent to 14 percent.

24 October 2019

Hakan Atilla Appointed Chair of İstanbul Stock Exchange

Hakan Atilla Appointed Chair of İstanbul Stock Exchange

Minister of Treasury and Finance Berat Albayrak has announced that Hakan Atilla, the former Deputy General Manager of Halkbank who served time in prison for violating US sanctions against Iran, will take office as the Chair of Borsa İstanbul.

22 October 2019

4 Million 596 Thousand People Unemployed

4 Million 596 Thousand People Unemployed

The Turkish Statistical Institute (TurkStat) has released its labor force statistics for July 2019. Accordingly, while the rate of unemployment is 13.9 percent in July, the total number of unemployed is 4 million 596 thousand people.

15 October 2019

İSİG Assembly: 145 Workers Killed in Occupational Homicides in September

İSİG Assembly: 145 Workers Killed in Occupational Homicides in September

Eleven of the killed workers were female and nine of them were refugees.

Mine Workers to March from Soma to Ankara

Mine Workers to March from Soma to Ankara

More than 3,500 mine workers will walk from Manisa to Ankara for the seniority indemnity payments they have not been able to receive for five years.

Economists Comment on Single-Digit Inflation: Inflation Falls, Prices Keep on Rising

Economists Comment on Single-Digit Inflation: Inflation Falls, Prices Keep on Rising

Commenting on the inflation figures announced by the TurkStat for September earlier today, economists are of the opinion that these figures will not be kept at this level.

Turkish Statistical Institute: Inflation 9.26 Percent, Highest Price Increase in Housing

Turkish Statistical Institute: Inflation 9.26 Percent, Highest Price Increase in Housing

According to the TurkStat statistics on consumer and producer price indexes for September, the annual inflation has been down to single digits, namely 9.26 percent. The highest monthly price increase has been recorded in housing with 2.15 percent.

Economist Güngen: It is Not Right to Say the Economy is Rebalancing

Economist Güngen: It is Not Right to Say the Economy is Rebalancing

Ali Rıza Güngen has evaluated the New Economic Program for bianet: It is said that there has been a rapid economic rebalancing since last year. However, all macroeconomic indicators show that Turkey's economy worsens.

2 October 2019 Hikmet Adal

Economists Say New Economic Program 'Far From Convincing'

Economists Say New Economic Program 'Far From Convincing'

Economists have tweeted on the program announced by the Minister of Treasury and Finance.

30 September 2019

Minister Announces New Economic Program: We will Fall Behind Our Growth Target This Year

Minister Announces New Economic Program: We will Fall Behind Our Growth Target This Year

Albayrak has said they revised the inflation target next year as 8.5 percent, which was previously 9.8 percent.

30 September 2019

Poverty Line Stands at 6,724 Lira

Poverty Line Stands at 6,724 Lira

According to Türk-İş survey, the starvation limit of a family of four was 2,064 lira in this month.

26 September 2019

H&M Workers to Go on a Strike

H&M Workers to Go on a Strike

As the Koop-İş Union and Sweden-based clothing-retail company H&M cannot agree on a collective labor agreement, the union has decided to go on a strike. The strike of H&M workers will start on October 4.

18 September 2019 Hikmet Adal

Youth Unemployment Almost 25 Percent, Informal Labor Increases

Youth Unemployment Almost 25 Percent, Informal Labor Increases

The Turkish Statistical Institute (TurkStat) has announced labor force figures for June.

16 September 2019

Central Bank Cuts Interest Rates

Central Bank Cuts Interest Rates

The Central Bank Monetary Policy Committee has reduced the policy rate from 19.75 percent to 16.50 percent.

12 September 2019

What does Erdoğan Mean by Alternative Finance?

What does Erdoğan Mean by Alternative Finance?

What is “Alternative Finance” that President and ruling AKP Chair Recep Tayyip Erdoğan has said to be swiftly expanding in the world? Speaking to bianet, economist Ali Rıza Güngen has commented on Erdoğan’s statement.

9 September 2019 Hikmet Adal

Erdoğan: We will Take Bold Steps in Alternative Finance

Erdoğan: We will Take Bold Steps in Alternative Finance

President and ruling AKP Chair Erdoğan has indicated that “alternative financial transactions are becoming more widespread in the world” and added, “We will take bold and determined steps in terms of alternative finance in the forthcoming period.”

9 September 2019

At Least 148 Workers Lose Their Lives in August

At Least 148 Workers Lose Their Lives in August

Of the killed workers, 14 were children, 12 were women and 11 were immigrants. The total number of occupational homicides this yeart was 1,174.

9 September 2019

'There's No Work Safety, It is Only on Paper'

'There's No Work Safety, It is Only on Paper'

Two workers fell and lost their lives at a bulding under construction in İzmir. Speaking to bianet about the occupational homicide, construction worker Kalın said, "They began working that day. We didn't even know their names properly."

6 September 2019 Ayça Söylemez

Inflation Figures for August Disputed, Economist Says 'Quite Bizarre'

Inflation Figures for August Disputed, Economist Says 'Quite Bizarre'

Economists and political parties have said the TurkStat figures for annual inflation rates do not reflect the truth.

3 September 2019

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