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Turkey Letter: 18 March 2019

Foreign Policy:

  • Turkey, Iran carried out joint operation against Kurdish militants: minister
  • Turkey expects F-35 jets to be delivered from US in November: Minister
  • EU parliament says Turkey EU-entry talks should be suspended
  • Turkey says it is discussing Syria offensive with Russia, U.S.

Economy & Energy:

  • Turkish unemployment surges to 13.5 percent, highest in nine years
  • Cost pressures are limiting further drop in Turkish inflation -cenbank
  • Turkey limits money-market funds as savers hunt for yield
  • Turkish current-account deficit shrinks as recession takes hold
  • Turkey enter first recession in a decade as elections loom

Domestic Politics:

  • AKP, MHP hold first joint local election rally in Turkey’s west
  • Turkey opens inquiry into visits by New Zealand mosque killer
  • Turkish Airlines’ big switch to Istanbul Airport on April 6


Foreign Policy

 

Turkey, Iran carried out joint operation against Kurdish militants: minister
Turkey and Iran carried out a joint operation against militants from the outlawed Kurdistan Workers Party (PKK) on Monday, Turkish Interior Minister Suleyman Soylu said according to state-owned media.
Reuters, Turkey, Iran carried out joint operation against Kurdish militants: minister, 18 March 2019


 Turkey expects F-35 jets to be delivered from US in November: Minister
Turkey expects the delivery of the F35 fighter jets from the U.S. in November, Defense Minister Hulusi Akar has said. “Despite some statements, F-35 process goes smoothly; our pilots, maintenance team continue training in the U.S.,” Akar told a luncheon with top Turkish generals in the capital Ankara on March 13.
Hurriyet, Turkey expects F-35 jets to be delivered from US in November: Minister, 14 March 2019


EU parliament says Turkey EU-entry talks should be suspended
The European Parliament urged the EU to suspend membership negotiations with Turkey as a result of democratic backsliding in the country.
Bloomberg, EU parliament says Turkey EU-entry talks should be suspended, 13 March 2019


Turkey says it is discussing Syria offensive with Russia, U.S.
Turkey is discussing with Russia and the United States a potential military offensive in a region of northeast Syria controlled by Kurdish fighters, a Turkish defense official was cited as saying by state media on Tuesday.
Reuters, Turkey says it is discussing Syria offensive with Russia, U.S., 12 March 2019



Economy & Energy


Turkish unemployment surges to 13.5 percent, highest in nine years
Turkey’s unemployment rate jumped to 13.5 percent in the November-January period, its highest level in nine years, official data showed on Friday, in a fresh sign of the impact of last year’s currency crisis.
Reuters, Turkish unemployment surges to 13.5 percent, highest in nine years, 15 March 2019


Cost pressures are limiting further drop in Turkish inflation -cenbank
Price pressures are limiting the extent to which Turkish inflation can continue to ease after last year’s run-up, even while a recent moderation in the lira and weak domestic demand helps, Turkey’s central bank said on Wednesday.
Reuters, Cost pressures are limiting further drop in Turkish inflation -cenbank, 13 March 2019


Turkey limits money-market funds as savers hunt for yield
Turkish authorities imposed a limit on how much cash money-market funds can hold after savers flocked to the higher-yielding instruments to protect themselves against rampant inflation, draining bank deposits.
Bloomberg, Turkey limits money-market funds as savers hunt for yield, 13 March 2019


Turkish current-account deficit shrinks as recession takes hold
Turkey’s current-account gap in January narrowed to around a tenth of the deficit seen a year earlier, as the economy continues to contract after last year’s currency crash and weak consumer demand curbs imports.
Bloomberg, Turkish current-account deficit shrinks as recession takes hold, 11 March 2019


Turkey enter first recession in a decade as elections loom
Turkey fell into its first recession in a decade, dealing a blow to President Recep Tayyip Erdogan as the country heads toward bellwether municipal elections this month.
Bloomberg, Turkey enter first recession in a decade as elections loom, 10 March 2019



Domestic Politics

 

AKP, MHP hold first joint local election rally in Turkey’s west
The ruling Justice and Development Party (AKP) and the Nationalist Movement Party (MHP) held their first joint rally on March 17 as part of their “People’s Alliance” in the Aegean province of İzmir for the upcoming March 31 local elections.
Hurriyet, AKP, MHP hold first joint local election rally in Turkey’s west, 18 March 2019


 Turkey opens inquiry into visits by New Zealand mosque killer
Ankara on March 15 opened an inquiry after it emerged that the man alleged to be the New Zealand mosque gunman made several visits to Turkey, an official said.
Hurriyet, Turkey opens inquiry into visits by New Zealand mosque killer, 16 March 2019


Turkish Airlines’ big switch to Istanbul Airport on April 6
As it switches its operations to the new mega-Istanbul Airport, Turkish Airlines will end all scheduled flights at Atatürk Airport as of April 6 at 2:00 a.m. local time (April 5, 23:00 GMT), the airline said on March 11.
Hurriyet, Turkish Airlines’ big switch to Istanbul Airport on April 6, 11 March 2019