The crisis in Ukraine also closely concerns the Turkish economy and it is vitally significant for Turkey that it be solved through peaceful means.
Following the month of January, preliminary economic data for February has also shown that an economic slowdown has started.
Last weekend, after the markets were closed, credit rating agency Standard and Poor’s revised the economic outlook of Turkey to “negative” from “stable.”
The first inflation data of 2014 has offered a pessimistic picture. While the increase in the consumer prices (CPI) for January was 1.72 percent, this figure was a bit higher than market expectations.
The Central Bank, finally listening to the voice of the markets, decided to make a change in its current monetary policies.
The political process that started with the Dec. 17 graft operation continues to affect the economy negatively.
When we visited the island last week together with the Turkish Industry and Business Association (TÜSİAD), we saw closely that there was a new hope for peace in Cyprus.
The Central Bank has not increased interest rates for a long time despite the demand of the markets
It is clear that 2014 will be a difficult year in terms of the economy.
