Turkey’s budget surplus widened 34 percent to 1.4 billion liras ($780 million) in April as a dividend from the central bank more than offset growth in government spending.
Turkish banking shares surged, snapping a three-day losing streak, after the central bank cut reserve requirements on lira liabilities, freeing up capital for increased lending.
Turkey’s agreement to import lower- cost oil and gas from Iraq’s Kurdish region could help Prime Minister Recep Tayyip Erdogan cut the nation’s current-account deficit by more than a third.
Banks are buying into Turkey’s ambition to create one of the world’s busiest aviation hubs as they prepare to finance the country’s largest corporate loan.
Turkey’s current-account deficit narrowed for an 11th straight month in September as a slowing economy and tighter monetary policy curbed imports while gold sales pushed exports up.
Inflation in Turkey accelerated to almost double the official target as the central bank sells dollars and squeezes liquidity to halt a decline in the lira that’s pushing prices up.
Turkish inflation accelerated at a slower pace than expected last month, beating all economists’ expectations and prompting banks including Morgan Stanley to cut their forecasts. Bonds jumped.
"I am proud of this transaction as a Turkish citizen."
- Ozgur Altug on Nov 05, 2014