Economic Updates: Turkey

Turkey: Sukuks set to diversify bank funding

South Eastern Europe | 12 Mar 2013
Turkey: Sukuks set to diversify bank funding

A strong performance from Turkey’s banks last year produced a significant rise in total assets and an increase in equity capital, generating impressive growth across the industry. Turkish banks also continued to strengthen their position on the international stage by further diversifying their services, with a number of financial institutions extending their reach into the growing Islamic financial services segment.

Turkey: Greenhouse expansion to boost agricultural investment

South Eastern Europe | 19 Feb 2013
Turkey: Greenhouse expansion to boost agricultural investment

A drive to restructure Turkey’s agricultural sector that includes ambitious plans to expand fruit and vegetable production is set to open the door for foreign investors looking to meet growing demand back home. Plans to drill new geothermal wells this year to help boost greenhouse production should further increase exports. However, the expansion is also prompting concerns that the introduction of new technology could lead to job losses.

Turkey: Gallipoli tourism boost

South Eastern Europe | 8 Feb 2013
Turkey: Gallipoli tourism boost

Next year, 2014, marks the beginning of a cycle of anniversaries set to last until the end of 2018, as countries across Europe, North America and beyond commemorate the centenary of the First World War. Turkey is looking to combine the expected spike in interest in historic events with a concerted drive to boost tourism revenue.

Turkey: Year in Review 2012

South Eastern Europe | 3 Jan 2013
Turkey: Year in Review 2012

After watching growth top 8% in 2010 and 2011, Turkey is now seeing its economic expansion ease amid a slowdown in growth both globally and in the eurozone, the impact of civil war in Syria and the doubling of interest rates throughout 2012. Increased focus on domestic demand and exports could see growth rebound in 2013, however.

Turkey: Challenges in renewables

South Eastern Europe | 17 Dec 2012
Turkey: Challenges in renewables

As the Turkish government drums up support for investment in renewable energy, international firms continue to face significant challenges in conducting environmental impact studies, securing funding and acquiring licences.

Turkey: Upgrade set to boost investment prospects

South Eastern Europe | 4 Dec 2012
Turkey: Upgrade set to boost investment prospects

A landmark return by Turkey to investment grade territory following an 18-year hiatus has brought fresh confidence to the country and could pave the way for a new era of investment.

Turkey: Regulating the pension system

South Eastern Europe | 12 Nov 2012
Turkey: Regulating the pension system

As the pension sector in Turkey prepares for upcoming regulatory changes, moves are under way in the private sector to transfer the pension departments of banks into more independent segments. Both of these developments are promising, given that they may lead to an increase in the domestic savings rate, which is currently low.