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Treasury to cut borrowing as costs increase
Turkey’s Treasury said it plans to borrow YTL 5.6 billion ($3.7 billion) on international markets in 2009, less than this year as the global crisis makes it harder and more costly for developing economies to obtain credit.
The target, laid out in a borrowing plan announced by the Treasury in Ankara in an e-mailed statement Monday, […]
Bosphorus prices vary
Tarabya is a valuable district alongside the Bosphorus and property prices in this area vary according to the view of the beautiful waterway through Istanbul.
Old apartments, villas, waterside mansions, new apartments in new living compounds are all available, TURYAP’s Tarabya representative Nedim Aktas said. Mansions right near the Bosphorus are invaluable. Prices of villas further […]
TOKI set to build its 400,000th home
The Housing Development Administration will focus on building homes for low-income groups in 2009, with a target of building its 400,000th house in mind.
The Housing Development Administration of Turkey, or TOKI, sold 24,317 houses in 2008 and has a target to build its 400,000th house in 2009.
A statement released by the administration on its […]
Turkey’s foreign trade deficit down 48.8 percent in November
Turkey’s foreign trade deficit fell by 48.8 percent in November 2008 to $2.72 billion compared to the same month of the 2007, the Turkish Statistical Institute (TURKSTAT) announced in a statement on Tuesday. (UPDATED)
Turkey’s export figures decreased by 17.5 percent to $9.3 billion in the same period, while imports decreased by 27.5 percent to $12 […]
More than 26 million tourists visit Turkey in 2008- ministry
More than 26 million tourists visited Turkey in 2008, Turkish Tourism Ministry officials said on Tuesday.
Speaking at a gathering in the northwestern province of Bursa, Undersecretary of the Ministry of Culture and Tourism, Ismet Yilmaz, said that Turkey’s tourism income reached $21 billion this year.
Briefing participants on the tourism activities in Turkey and all […]
Turkish parliament cuts spending
Turkey’s parliament on Saturday reduced the budget allocations of most ministries by up to 16 percent to cut overall spending as the country seeks a loan deal with the International Monetary Fund. Parliament voted 324-117 to save around 5.5 billion liras ($3.6 billion) in the 2009 budget. That is expected to please an IMF delegation […]
Turkey’s Sabanci sees end-2009 real economy pick-up
Activity in Turkey’s real economy is expected to pick up towards the end of 2009 with the first quarter of next year being of critical importance, Sabanci Holding Chairwoman Guler Sabanci said on Tuesday.
In a statement assessing 2008 and looking forward to next year, the Turkish conglomerate’s chairwoman said she expected very low economic growth […]
Projects undertaken by Turkish contractors abroad exceed 130 bln USD
Turkish State Minister Kür?ad Tüzmen said on Thursday that the total value of projects carried out by Turkish contractors in foreign countries exceeded 130 billion USD. A ceremony was held at Ankara’s Sheraton Hotel to award the 23 Turkish contractors that were listed among the “Top 225 International Contractors” in an annual report prepared by […]
Turkey surpasses its target of 125 billion USD in exports
Turkish State Minister Kür?ad Tüzmen has said that Turkey surpassed its year-end target of 125 billion USD in exports as of December 22, 2008.
Speaking at a meeting of the Turkish Economic Journalists’ Association, Tüzmen said, “the global crisis caused an inestimable shrinkage in world markets. Accordingly, exports have dropped in the recent months. […]
S&P: IMF deal failure will not cause recession
Despite claims to the contrary by other rating agencies, the failure to reach an agreement between the International Monetary Fund (IMF) and Turkey would not cause the country to fall into recession, said Farouk Soussa, an economy analyst on Turkey at Standard & Poor’s (S&P).
In early December, Moody’s, a global credit rating agency, predicted […]
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