This week, all eyes will be on the PMI (Purchasing Managers’ Index) indices to be announced on Friday morning. The indices that will be released both in Turkey and in other leading countries will be watched closely. Institutions such as the IMF, OECD, World Bank, and national authorities are revising their 2022 growth forecasts downwards, and there are signs of a slowdown in PMI data in the coming months.
This week will also be busy for the Parliament, which will carry out legislative and audit activities. The body will discuss the legislative proposal for the 2022 Central Government Budget Law and relevant tables signed by President Recep Tayyip Erdogan on Tuesday. The Parliament is also expected to examine the Military Penal Code, and a legislative proposal for amendment of a range of laws. The omnibus bill, which includes economic regulations, is also expected to be submitted to the Parliament on Tuesday.
Meanwhile, the Parliament will hold elections for five empty membership seats in the Court of Accounts. Three of the five members will be elected from the members of the Court of Accounts, one will be chosen from the members of the Treasury and Finance Ministry, and the last member will be elected from other candidates.
The Parliament’s Human Rights Inquiry Commission will examine the ‘Kocaeli Prisons Inquiry Report’ and the ‘Sweden Inquiry Report’ on Wednesday.
The Parliament, which should be closed by July 1, according to the Constitution, will continue its work as a result of a decision published in the Official Gazette. The body will keep working during July until the legislative proposals on its agenda are enacted.
In the meantime, the State-owned Enterprises Commission will continue to audit the 2019-2020 accounts of the Housing Development Administration (TOKI) and Vakif Insaat Restorasyon ve Ticaret AS on Tuesday, General Directorate of the State Supply Office (DMO) and Directorate General of the National Lottery Administration (MPI) on Wednesday, and Ziraat Bank AS and its subsidiaries on Thursday.
Moreover, political parties will organize group meetings in Parliament this week.
Developments regarding the increase in the minimum wage, which is expected to be made in the second half of the year and concerns millions of workers and employers, will be on the agenda of the government and unions this week.
President Recep Tayyip Erdogan will attend the NATO Summit in Madrid on 28-30 June. The most important agenda item at the summit will be the applications by Sweden and Finland to join NATO. Turkey opposes the membership of the two countries because they have not taken concrete steps to support the fight against terrorism and end defense industry sanctions. Efforts to persuade Turkey to accept the two countries’ memberships are expected to continue throughout the summit.
Ankara Chamber of Industry (ASO) is expected to hold its June Assembly meeting on Wednesday.
The number of road motor vehicle registrations dropped by 5.3% to 112,709 in May, compared to the previous month, according to the Turkish Statistical Institute.
President Recep Tayyip Erdogan will receive Austrian National Council President Wolfgang Sobotka (2.00 p.m.).
The Cabinet will convene under the presidency of President Recep Tayyip Erdogan (3.00 p.m.).
Foreign Minister Mevlut Cavusoglu will hold a joint press conference with his Iranian counterpart Hossein Amir Abdollahian (6.00 p.m.).
President Recep Tayyip Erdogan will receive Iranian Foreign Minister Hossein Amir Abdollahian (8.00 p.m.).
IN OUR MAGAZINE THIS WEEK:
>> On the cover: Sarten Ambalaj, one of the biggest packaging companies in Turkey, renewed its growth target in its 50th year. The company, which is also one of the 10 most important metal packaging manufacturers in the world, revised its 10-year growth plan and raised its target. “We achieved our USD 500m turnover target in the 10-year plan we made in 2012 in 2021, one year earlier than expected. At that time, our target for 2030 was USD 1bn. We have backdated that target as well,” said Zeki Saribekir, CEO of Sarten Ambalaj. The firm is expected to end 2022 with a USD 700m in sales revenue. You can read the details on pages 8-9.
>> Professor Ilter Turan says ‘Mohammed bin Salman’s visit calls for caution’ on page 10.
>> Q&A: Atilla Koksal, Chairman of the Board of Directors of the Financial Literacy and Inclusion Association (FODER) P. 11.
>> Chief Economist Gunduz Findikcioglu: Investment, sudden stops, and the business cycle. Pp. 12-13.
>> Our Foreign Policy Columnist Zeynep Gurcanli analyses ‘the Middle East air defense alliance’ on page 14.