Turkiye will have a profile busy This week’s economic agenda, led by growth data for The second quarter Inflation figures and exports for August, before government A . is expected to be announced new Mid-term roadmap.
eyes will also is being on global and local developments, particularly Russia invasion of Ukraine, due to their close links with Turkey in trade, energy and tourism.
data on Wednesday probably show that turkish economy keep up strong performance in In the period from April to July, the best offer performance From in The first After three months of recovering strongly from the coronavirus pandemic.
Surveys expect GDP to have expanded by about 7.5% in The second quarter From year Ago. However, economic activity is seen as cold off in The second half of The yearreflecting weaker demand Circumstances.
The economy expanded 7.3% year-over-year in The first quarter driven by strong performance, strong exports and strong domestic demand.
The government’s new economic program Priority was given to production, growth and exports with Low interest rates policywith the aim of achieving a current An account surplus that is said to eventually stabilize the Turkish lira and calm inflation.
The easing cycle led to the end of the lira last year down 44% against The dollar And another 27% consumption so far this year.
while the rate Wounds intended to stimulate economyAnalysts expect activity may cool in The second half of The year Because of the downward trend in demand An expected economic slowdown in Turkey’s largest trade partners.
average rating of 13 economical in Reuters poll for Annual GDP growth in The second quarter 7.5% amounted to within a range of 5% and 8.7%. Bloomberg HT poll predicts 7.5% growth for The period from April to June.
The full-year growth was less, with average rating of 18 economical in The Reuters poll stands at 4.05% and expectations range between 3.3% and 5%. Bloomberg HT poll sees it at 4.5%, with From 3.2% to 5.6%.
Central Turkey bank Cited signs of slowing down in Third quarter Earlier this month when it surprised the markets cutting that it policy rate by 100 basis pointssaying it needs to continue economic leadership growth.
“It is important to financial Circumstances remain supportive to maintain growth Pushing force in Industrial production and positive trend in employment” bank He said.
Minister of Treasury and Finance Noureddine Nabati last Week said he expects growth in The second quarter to come in higher From 7.3% registered in The first quarter.
Turkey economy I was one of Little to expand tight in 2020. wore back in 2021, 11% expansion.
booming exports
The growth It will be followed by data export, scheduled to be announced on Friday by the Minister of Commerce, Mohamed Mosh in The southeastern province of Gaziantep. The performance During July, they reaffirmed the views that the annual goal will be achieved even before year-End.
I managed to achieve the two sources record sales in Every month so far this year And the in 21 of The last 23 months. However, industry representatives are said to be reviewing their goals as follows new Request #%s drop middle marks of a global slowdown and inflationary pressure.
Sales soared more from 19% year-over-year in The first seven months of 2022 to 144.4 billion dollars, while imports up 40.7% to $206.4 billion, according to official data.
But it deteriorates global Circumstances exacerbated by the war in Ukraine, has raised concerns for the rest of The year. Russia invasion of send her neighbor global Rising commodity prices, putting the Turkish economy at risk program Aims to tackle high inflation with a current Account surplus.
The trade inability in The first Seven months jumped 143% year-over-year to $61.9 billion, mainly due to rising Energy import costs.
Exports had finished 2021 at $225.4 billion, a figure government Economists expected this amount to reach 250 billion dollars year. 12-month rolling exports exceeded $248 billion of July.
to treat event in Northwest Province of Sakarya, not much on Sunday said that the ultimate goal is permanently solve The economyhistory issue of a trade inability.
summit in Inflation may be soon
strong pace in 2021 and this year It was overshadowed by high inflation, which runs at 24-year high.
annual consumer price CPI rose slower than expected pace in July but still reached nearly 80%, and highest Level since September 1998, the smartest in By rising energy prices because of Russia invasion of Ukraine.
Increase turned out to be smaller than in Past months, suggesting that price The pressure may slow down.
Economists have suggested that inflation may approach a peak with Energy inflation has fallen sharply and food inflation appears to be approaching the top out.
President Recep Tayyip Erdogan said he expects inflation down to ‘appropriate’ levels by February and March next year ask for The public to me show patience.
Nabati Finance Minister last He said the week inflation rate It will enter a sharp downtrend like of December due to the so-called favorable fundamental effects and the fall will continue throughout 2023.
central bank of Republic of Turkey (CBRT) last raise her month yearInflation expectations eventually reach 60.4% and have peaked near 90%. in The autumn.
Among other things, unemployment data for July delivery date on September 12. idlers rate I was down 0.3 percentage points From the previous month to 11.2% in June , latest data showed.
after a day , eyes will be on Turnover indicators, retail sales and industrial production, which jumped 8.5% in June of year before and 1.5% on monthly basis.
A new meeting of the Monetary Policy Committee after a sudden cut
middle of the country bank spelling out sharp focus on economic growth Because it unexpectedly lowered one- repo week rate to 13% from 14% on August 18, level maintained for The last seven months.
She said the cut was aimed at boosting the economy growth Maintaining employment amid growing geopolitics risk. He. She added who – which rising Loan rates reduced their effectiveness of cash policy.
The bank Repeat this inflation should begin Thanks to steps The bank Other authorities have taken to cool some forms of Credit, along with The end of the war finally.
CBRT delivered A series of cuts last yearand cut rates by 5 percent points Before pausing the dilution cycle in January. It is scheduled to hold its Monetary Policy Committee next Meeting on September 22.
Erdogan last The week reiterated his opposition to higher borrowing costs, as ruling out no interest rate Increases.
“What Turkey needs is not rate high but increasing in Investment, employment, production, exports and current Account surplus.
The President assured that Turkey will do so set Economic policy Based on on their own interests and needs. “Economics theories are not valid everywhere, unlike physics or mathematics,” Erdogan said. These theories vary according to circumstances and strength of country.”
well known turkish leader for his opposition to higher Borrowing costs, which is says It just makes the rich richer and the poor poorer.
In June, he pledged that his government It will keep cutting interest rates rather than increasing them.
3-year economic program
Meanwhile, will September also It is marked by a new Mid-term roadmap expected to be announced in early days of the month.
the three-year economic program It covers the period from 2023 to 2025 and is said to include expectations and goals related to leading Macroeconomic indicators, including inflation, employment, growth, exports, and current account balance.
eyes will also is being on the influence of regional and global headwind on The economy and their reflection in The programincluding the extent to which it is expected to affect the principles and objectives of economic policies.
Turkiye will have a profile busy This week’s economic agenda, led by growth data for The second quarter Inflation figures and exports for August, before government A . is expected to be announced new Mid-term roadmap.
eyes will also is being on global and local developments, particularly Russia invasion of Ukraine, due to their close links with Turkey in trade, energy and tourism.
data on Wednesday probably show that turkish economy keep up strong performance in In the period from April to July, the best offer performance From in The first After three months of recovering strongly from the coronavirus pandemic.
Surveys expect GDP to have expanded by about 7.5% in The second quarter From year Ago. However, economic activity is seen as cold off in The second half of The yearreflecting weaker demand Circumstances.
The economy expanded 7.3% year-over-year in The first quarter driven by strong performance, strong exports and strong domestic demand.
The government’s new economic program Priority was given to production, growth and exports with Low interest rates policywith the aim of achieving a current An account surplus that is said to eventually stabilize the Turkish lira and calm inflation.
The easing cycle led to the end of the lira last year down 44% against The dollar And another 27% consumption so far this year.
while the rate Wounds intended to stimulate economyAnalysts expect activity may cool in The second half of The year Because of the downward trend in demand An expected economic slowdown in Turkey’s largest trade partners.
average rating of 13 economical in Reuters poll for Annual GDP growth in The second quarter 7.5% amounted to within a range of 5% and 8.7%. Bloomberg HT poll predicts 7.5% growth for The period from April to June.
The full-year growth was less, with average rating of 18 economical in The Reuters poll stands at 4.05% and expectations range between 3.3% and 5%. Bloomberg HT poll sees it at 4.5%, with From 3.2% to 5.6%.
Central Turkey bank Cited signs of slowing down in Third quarter Earlier this month when it surprised the markets cutting that it policy rate by 100 basis pointssaying it needs to continue economic leadership growth.
“It is important to financial Circumstances remain supportive to maintain growth Pushing force in Industrial production and positive trend in employment” bank He said.
Minister of Treasury and Finance Noureddine Nabati last Week said he expects growth in The second quarter to come in higher From 7.3% registered in The first quarter.
Turkey economy I was one of Little to expand tight in 2020. wore back in 2021, 11% expansion.
booming exports
The growth It will be followed by data export, scheduled to be announced on Friday by the Minister of Commerce, Mohamed Mosh in The southeastern province of Gaziantep. The performance During July, they reaffirmed the views that the annual goal will be achieved even before year-End.
I managed to achieve the two sources record sales in Every month so far this year And the in 21 of The last 23 months. However, industry representatives are said to be reviewing their goals as follows new Request #%s drop middle marks of a global slowdown and inflationary pressure.
Sales soared more from 19% year-over-year in The first seven months of 2022 to 144.4 billion dollars, while imports up 40.7% to $206.4 billion, according to official data.
But it deteriorates global Circumstances exacerbated by the war in Ukraine, has raised concerns for the rest of The year. Russia invasion of send her neighbor global Rising commodity prices, putting the Turkish economy at risk program Aims to tackle high inflation with a current Account surplus.
The trade inability in The first Seven months jumped 143% year-over-year to $61.9 billion, mainly due to rising Energy import costs.
Exports had finished 2021 at $225.4 billion, a figure government Economists expected this amount to reach 250 billion dollars year. 12-month rolling exports exceeded $248 billion of July.
to treat event in Northwest Province of Sakarya, not much on Sunday said that the ultimate goal is permanently solve The economyhistory issue of a trade inability.
summit in Inflation may be soon
strong pace in 2021 and this year It was overshadowed by high inflation, which runs at 24-year high.
annual consumer price CPI rose slower than expected pace in July but still reached nearly 80%, and highest Level since September 1998, the smartest in By rising energy prices because of Russia invasion of Ukraine.
Increase turned out to be smaller than in Past months, suggesting that price The pressure may slow down.
Economists have suggested that inflation may approach a peak with Energy inflation has fallen sharply and food inflation appears to be approaching the top out.
President Recep Tayyip Erdogan said he expects inflation down to ‘appropriate’ levels by February and March next year ask for The public to me show patience.
Nabati Finance Minister last He said the week inflation rate It will enter a sharp downtrend like of December due to the so-called favorable fundamental effects and the fall will continue throughout 2023.
central bank of Republic of Turkey (CBRT) last raise her month yearInflation expectations eventually reach 60.4% and have peaked near 90%. in The autumn.
Among other things, unemployment data for July delivery date on September 12. idlers rate I was down 0.3 percentage points From the previous month to 11.2% in June , latest data showed.
after a day , eyes will be on Turnover indicators, retail sales and industrial production, which jumped 8.5% in June of year before and 1.5% on monthly basis.
A new meeting of the Monetary Policy Committee after a sudden cut
middle of the country bank spelling out sharp focus on economic growth Because it unexpectedly lowered one- repo week rate to 13% from 14% on August 18, level maintained for The last seven months.
She said the cut was aimed at boosting the economy growth Maintaining employment amid growing geopolitics risk. He. She added who – which rising Loan rates reduced their effectiveness of cash policy.
The bank Repeat this inflation should begin Thanks to steps The bank Other authorities have taken to cool some forms of Credit, along with The end of the war finally.
CBRT delivered A series of cuts last yearand cut rates by 5 percent points Before pausing the dilution cycle in January. It is scheduled to hold its Monetary Policy Committee next Meeting on September 22.
Erdogan last The week reiterated his opposition to higher borrowing costs, as ruling out no interest rate Increases.
“What Turkey needs is not rate high but increasing in Investment, employment, production, exports and current Account surplus.
The President assured that Turkey will do so set Economic policy Based on on their own interests and needs. “Economics theories are not valid everywhere, unlike physics or mathematics,” Erdogan said. These theories vary according to circumstances and strength of country.”
well known turkish leader for his opposition to higher Borrowing costs, which is says It just makes the rich richer and the poor poorer.
In June, he pledged that his government It will keep cutting interest rates rather than increasing them.
3-year economic program
Meanwhile, will September also It is marked by a new Mid-term roadmap expected to be announced in early days of the month.
the three-year economic program It covers the period from 2023 to 2025 and is said to include expectations and goals related to leading Macroeconomic indicators, including inflation, employment, growth, exports, and current account balance.
eyes will also is being on the influence of regional and global headwind on The economy and their reflection in The programincluding the extent to which it is expected to affect the principles and objectives of economic policies.