Considering seasonal conditions, the 2023 elections can be moved to an earlier time, according to President Recep Tayyip Erdogan. Speaking at AK Party’s extended provincial heads meeting, President Recep Tayyip Erdogan said after an upcoming foreign ministers meeting, the leaders of Russia, Turkey, and Syria may also meet to discuss peace and stability in Syria. “Depending on the developments, we may come together as the Russian, Turkish, and Syrian leaders. So, we aim to establish peace and stability in the region,” Erdogan added. Turkish, Russian, and Syrian defense ministers and intelligence chiefs came together in Moscow, he said, noting that “hopefully, the foreign ministers will come together in a trilateral format.”
President Recep Tayyip Erdogan talked over the phone with his Russian counterpart Vladimir Putin to discuss energy, bilateral relations, and regional issues including the Russia-Ukraine war and Syria. Erdogan also held a phone call with his Ukrainian counterpart Volodymyr Zelenskyy to discuss Turkey’s humanitarian aid and energy support to Ukraine as well as the developments in the grain corridor. “Turkey is ready to undertake the task of facilitating and mediating for the establishment of a lasting peace between Russia and Ukraine,” Recep Tayyip Erdogan told Zelenskyy, according to a statement by the Communications Directorate. Efforts on the prisoner exchange between Moscow and Kyiv are continuing, Erdogan noted, expressing Turkey’s willingness for diplomatic contribution to expedite the process for the Zaporizhzhia Nuclear Power Plant.
The six-party opposition roundtable held its 10th meeting and the first meeting of the year hosted by Gelecek Party Chairman Ahmet Davutoglu. Leaders made a joint statement following the 9-hour meeting. The discussion process to determine a common presidential candidate will start, according to the statement. The transition period roadmap and common policies statement will be launched at a meeting held on January 30. The next six-party opposition roundtable meeting, which will be hosted by IYI Party, will be held on January 26.
No important data will be released in the country.
>> Turkey’s benchmark stock index was down by 7.37% to end yesterday at 5,116.41 points, the sharpest decline since February 24, 2022. Borsa Istanbul’s BIST 100 index lost 407.08 points from the previous close with a daily trading volume of TRY 123.9bn. The circuit breaker was activated twice, and transactions were halted after the decline exceeded 5% yesterday. While there was no news flow to hurt the market, analysts stated that along with profit sales, algorithmic transactions could have accelerated the decrease.
>> The Central Bank’s discount rate for inflation-indexed bonds has been raised from 60% to 70%, according to a statement from the bank.
>> Passenger car and light commercial vehicle sales surged by 6.2% to 783,283 units in 2022, compared to the previous year, hitting a 5-year high, according to the Automotive Distributers and Mobility Association (ODMD).
>> Residents’ FX deposit accounts declined by USD 3.06bn in the week ending on December 30, compared to the previous week, according to parity-adjusted data from the Central Bank.
>> Residents’ FX deposit accounts have totaled USD 191.94bn as of the week ending on December 30, the lowest level since September 13, 2019, according to the Central Bank.
>> The total amount in FX-protected TRY deposit accounts (KKM) fell by TRY 47.9bn from TRY 1.46tr to TRY 1.41tr in the week ending on December 30, compared to the previous week, according to the Banking Regulation and Supervision Agency (BDDK).
>> The Central Bank’s international net reserves surged by USD 876.6m to USD 27.54bn in the week ending on December 30, compared to the previous week. The bank’s total reserves rose by USD 326m to USD 128.75bn in the same period.
>> Foreigners’ net equity and corporate bond outflows amounted to USD 54m and USD 4m, respectively, while their government debt securities acquisitions totaled USD 53m in the week ending on December 30, according to the Central Bank.
>> The banking sector’s total loan volume increased by TRY 73.63bn from TRY 7.49tr to TRY 7.56tr and its total deposits rose by TRY 7.8bn, or 0.9%, to TRY 8.86tr in the week ending on December 30, compared to the previous week, according to BDDK.
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