
Muhammet Mercan
Articles
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2 weeks ago |
think.ing.com | Muhammet Mercan |František Táborský |James WIlson |James Wilson
In May, central bank Governor Fatih Karahan held a meeting to introduce the second inflation report of the year and shared the latest inflation forecasts after the volatility in late March. Without any meaningful revision to those presented in the previous report, the CBT kept the inflation forecast unchanged at 24%, 12% and 8% for this year, 2026, and 2027, respectively.
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1 month ago |
think.ing.com | Muhammet Mercan |František Táborský |James WIlson |James Wilson
Turkey's economy at a glance In the absence of any further exchange rate shock, large wage adjustments, unexpected hikes in administered prices, or jumps in commodity prices in the remainder of this year, we continue to expect inflation below 30.0%. While the deterioration in the inflation expectations is relatively contained after the March volatility, the Central Bank of Turkey (CBT) has prioritised financial stability after large reserve depletion.
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Mar 11, 2025 |
think.ing.com | Muhammet Mercan |František Táborský |James WIlson |James Wilson
Turkey's economy at a glance Economic data for the fourth quarter of 2024 shows domestic demand recovering despite tight monetary policies. Private consumption reached a record high after declines in mid-2024, while net exports made a negative contribution to growth. Indicators suggest GDP growth will continue to recover in early 2025, though the central bank considers demand conditions to support lower inflation.
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Feb 12, 2025 |
think.ing.com | Muhammet Mercan |František Táborský |James WIlson |James Wilson
Turkey's economy at a glance In its first inflation report of this year, the CBT raised its inflation forecast again from 21% to 24%, while keeping its 2026 forecast unchanged at 12%. The revision for this year is attributable to a) an increase in the weight for services (0.8ppt), b) a revision in the projections for food inflation (to 24.5% from 22.5%, lifting the forecast by 0.5ppt) and c) administered price hikes (1.7ppt).
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Jan 23, 2025 |
think.ing.com | František Táborský |Muhammet Mercan |James WIlson |James Wilson
Given inflation and the rapidly rising debt service, we expect a massive increase in gross borrowing needs this year despite a narrower fiscal deficit than last year. Our forecast shows a 33% increase in needs, from TRY2,494bn to TRY3,313bn. However, in terms of GDP, they decrease slightly from 5.9% to 5.8%, aligning with the five-year average.
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