Important News
The Unemployment Rate is Recorded as 12.8 Percent in April 2020
Macro Indicators
7/10/2020
The employment rate realized as 41.1 % decreasing by 4.9 points compared to the previous year whereas the youth unemployment rate realized at a level of 24.4%...
Syndicated Loans of $ 150 Million Provided by 12 Banks for the Industrial Development Bank of Turkey (TSKB)
Loans
7/10/2020
The annual interest rate of the credit with a maturity of 367 days is Euribor / Libor + %1.75 with a rollover rate of 85%...
Support Provided by Garanti BBVA Leasing and Smart Energy to SPP Investors
Renewables (HEPP, Wind, Solar, Biofuel) Other Renewables
7/8/2020
Credit support will be provided to SPP investors at suitable costs and maturities by means of the protocol…
ENKA Signs a Natural Gas Combined Cycle Power Plant Contract in Tataristan
Abroad Company News Natural Gas
7/8/2020
It is planned that the 858-MW power plant that is planned to be the most efficient power plant in Russia will complete by 2023...
Tekfen İnşaat Signs a Contract for Modernization of the Haydar Aliyev Refinery
Abroad Company News Petrochemical
7/8/2020
An affiliate of Tekfen İnşaat has signed a $237-million contract for construction and installation works under the modernization of the Haydar Ayliev Refinery...
Treasury Funding Program for June - September 2020
Macro Indicators
7/1/2020
The Treasury will repay 74.4 billion TL of internal debt and 11.1 billion TL of external debt in the three-month period from July to September. This means a total repayment of 85.5 billion TL. About 84 billion TL of internal borrowing will be made for funding this debt service...
Turk Eximbank Secured 380 Million Euro Credit
Loans
6/29/2020
Turk Eximbank has secured 380 million euro credit of 10 year term from banks consortium under World Bank guarantee. The cost of credit has been 6 months Euribor plus 2.83%. Standard Chartered Bank, ING Bank and Societe Generale took pat in the credit...
Infrastructure Investments General Directorate (AYGM), Canal Istanbul Project
Ports Build-Operate-Transfer (BOT) Transportation
6/29/2020
“The Draft Environmental Plan with a scale of 1/100,000 on the Reserved Development Area at the European Side of Istanbul Province” which was revised has been posted once more and will stay posted for a month… The Ministry of Environment and Urban Development has been authorized for all zoning implementations regarding Yenişehir on an area of 37,000 hectares to be formed in the vicinity of Canal Istanbul. An arrangement on “special project zone” has been made for projects to be developed in relation with Canal Istanbul…
Head of EU Delegation to Turkey, Berger's Noteworthy Statements
Speeches
6/25/2020
"We have faced and still are facing serious problems in terms of cash flow in access to supply and raw material. The mishaps in this field have an adverse impact on textile, machinery and equipments and motor vehicles industries. We have to protect our historical trade relations based on trust. Mishaps experienced in visa and logistics require cooperation of institutions of both sides"...
IMF Updates the World Economic Outlook Report
Reports Research
6/24/2020
IMF has revised the narrowing estimate for global economy as 4.9% for 2020 from a previous forecast rate of 3%. Expectations for Turkey remain unchanged. The Turkish economy is expected to contract by 5% in 2020 to be followed by a growth rate of 5% in 2021…
The New Law on the Protection of Competition Took Effect
Parliament Legislation
6/24/2020
The new Law brings the stipulation and reconciliation institutions from the EU legislation to the Turkish competition legislation.
Important Disclosures Made by Trade Minister Ruhsar Pekcan
Loans Speeches Legislation
6/22/2020
“We have registered the free zone at Atatürk Airport as the first special expertise free trade zone and the field of expertise of the zone in question has been named as the IT (information technologies) - We will provide an interest rate and dividend support for a maximum period of 10 years to main investor companies that will establish these special expertise free trade zones not to exceed 50 percent of the fixed investment cost”…
The Notification of the Central Bank on Minimum Reserves Has Been Amended
Legislation
6/22/2020
The condition of the real credit growth rate imposed to banks to be lower than 15 percent has been lifted to be valid until the end of the year…
Tekfen İnşaat Awarded USD150 Million Contract in Qatar
Abroad Company News
6/19/2020
Al Khor Expressway Connection Roads construction will be completed in 24 months...
Short Term Foreign Debt Stock is Recorded as $ 115.2 Billion as of the End of April
Macro Indicators
6/18/2020
Short term debts of the public sector entirely consisting of public banks realized as $ 24.8 billion decreasing by 1.0 percent compared to the end of 2019 whereas the short term debt stock of the private sector realized as $ 81.1 billion decreasing by 10.1 percent...
Long Term Credit Debt Secured by Private Sector From Abroad is USD 173.6 Billion As of End-April
Loans Macro Indicators
6/17/2020
Of USD 173.6 billion long term total credit debt, 41.9% is of financial agencies, 58.1% is of non-financial establishments’ debts. In the same period, of USD 8.1 billion short term total credit debt, 76% is of financial agencies, 24% is of non-financial establishmentın debts...
Annual Report
