BY ZEYNEP GURCANLI The Ukraine war is permanently changing global security infrastructure. The most obvious change is the awakening of the “sleeping giant,” Germany. After the Second World War, Germany transferred defense spending to industry and therefore turned into an economic giant. Now it is moving to a new security-oriented policy. The Germans use the...
Tag: European Union
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The impact of the Ukrainian war on the global economy: OPINION
BY ZEYNEP GURCANLI The crisis is escalating extremely quickly. The Western Front, which we thought was splintered due to relations with Russia, united. Putin and his administration are facing severe sanctions. The Russian army did not reach its targets in Ukraine as quickly as expected. Putin’s myth of kinship between Ukraine and Russia turned out...
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The first step towards the new international order: OPINION
BY ZEYNEP GURCANLI We feared it would happen in Ukraine. After the extraordinary military buildup on the Ukrainian border, Russian leader Vladimir Putin took the expected step of officially recognizing Luhansk and Donetsk, two Russian-dominated regions that declared their independence from Ukraine. Not only did he recognize them, but by signing cooperation and assistance agreements...
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A highly credible program should be implemented for inflation: ASO
Turkey should immediately implement a highly credible program to fight against inflation, says Nurettin Ozdebir, Chairman of the Ankara Chamber of Industry (ASO). Speaking at the ASO January Assembly meeting, Ozdebir said inflation will continue to be a problem until the impacts of the pandemic disappear. It has now become a structural problem, he said....
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Exports in 2021 reaches USD 225.4bn
Turkey’s exports rose by 32.9% to USD 225.4bn in 2021, compared to the previous year, according to President Recep Tayyip Erdogan. The country’s foreign trade deficit, meanwhile, dropped by 7.8% to USD 45.9bn in the same period. The export/import coverage ratio hit 83.1%. “We’ve achieved our foreign trade volume, which stood at USD 87.6bn in...
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Frequent management changes destroy TurkStat’s credibility
BY ELIF KARACA Frequent changes of the president of the Turkish Statistical Institute (TurkStat) and other management positions significantly undermine the institution’s credibility, said the European Statistical Office (Eurostat) officials citing the European Commission’s 2021 Turkey report. Officials said Turkey was the first candidate that passed the ‘peer review’ assessment in 2015. “Other candidates and...
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EBRD to provide USD 25m to Garanti BBVA Leasing to be used by SMEs
The European Bank for Reconstruction and Development will provide a USD 25m loan to Garanti BBVA Leasing, the financial leasing arm of Garanti BBVA, to be used by eligible SMEs for investments in sustainability, according to a statement from the EBRD. This new loan has been distributed under the third phase of the Turkey Sustainable...