Tue, 21-Oct-2025

Turkish president announces new measures to cope with currency depreciation

Turkish president

ANKARA: Turkish President Recep Tayyip Erdogan unveiled a new package of measures on Monday to support deposits denominated in Turkish lira, after the currency has lost about 50 per cent of its value against the dollar this year. Speaking at a press conference after a cabinet meeting, Erdogan said Turkey would introduce new measures within … Read more

Turkey revises tourism profits up amid currency tumble

Turkey faces threat of inflation

ISTANBUL — Turkey has revised the expectation of tourism revenues upwards to 24 billion U.S. dollars for 2021, a much-needed hard currency as the country grapples with crippling local currency turbulence. “Turkey aims to generate 24-billion-dollar income from the tourism industry this year,” Turkish Culture and Tourism Minister Mehmet Nuri Ersoy recently said. The country … Read more