Last week the Turkish Industry and Business Association (TÜSİAD) warned Ankara about certain negative developments currently taking place. Its criticism also touched on the effects of recent economic and political mistakes.
With the trust that comes from the Turkish tourism sector’s recovery at the beginning of this year, tourism seems hopeful for Turkey in 2018.
Projects concerning newly found East Mediterranean gas to be transferred to Europe through Turkey recently had an important place in Ankara’s dream of becoming an energy center.
Statements made by top government figures are raising concerns about the health of the Turkish economy.
Turkey’s current account deficit reached $4.5 billion in September, higher than expected.
Bloomberg News reported last week that Turkey’s new sovereign wealth fund has been holding meetings with foreign banks to secure loans, requesting a $5 billion loan from a Chinese bank.
Figures released Oct. 16 show a rising trend in unemployment, suggesting that the ongoing expansion of Turkey’s economy is not being reflected on the labor front.
The recent visa crisis with the United States has been negatively affecting the business world and even more importantly, has been causing increasing distress among businesspeople due to the consequential crisis Turkey has been experiencing.
We can say that the ongoing visa crisis with the United States arose at an unfortunate time. It is certain that the economy will pay a heavy price if the crisis is not resolved at once, or if it gets more complex.