What matters on Monday, October 24

The Cabinet is expected to convene under the presidency of President Recep Tayyip Erdogan today. The constitutional guarantee for the headscarf, the family regulation, the coal mine explosion in Bartin, counterterrorism, domestic and foreign policy issues, and economic developments will be discussed at the Cabinet meeting.

Regarding economic data, this week will be marked by confidence indices. The Central Bank will announce the Real Sector Confidence Index for October and the Turkish Statistical Institute (TurkStat) will release the confidence indices for services, retail, and construction industries for October on Tuesday.

On Thursday, TurkStat will also release the Economic Confidence index for October, foreign trade statistics for September, and tourism figures for the third quarter. The tourism data will show the final situation regarding foreign tourist inflow, which continues to perform better than expected. The Central Bank, meanwhile, will announce its Inflation Report on the same day.

In terms of internal affairs, the foundations for 5,000 homes will be laid on Tuesday as part of the Social Housing project. The groundbreaking ceremony will be held in 17 provinces, including Ankara, Afyon, Amasya, Aydin, Bolu, Diyarbakir, Elazig, Erzurum, Kahramanmaras, Kirsehir, Konya, Manisa, Mugla, Tunceli, Usak, Yozgat, and Zonguldak. 

The ‘Budget Marathon’ will kick off on Wednesday. The legislative proposals for the 2023 Central Government Budget and the 2021 Central Government Final Account will begin before Parliament.

On Thursday, the budgets for the Ombudsman Institution and the Court of Accounts will be discussed at the Parliament’s Planning and Budget Commission.

President Recep Tayyip Erdogan will announce the Election Vision Paper in Ankara on Friday. The paper, which is the first step of the AK Party’s election strategy, will include projects to be carried out before the election.


No important data will be released in the country


>> On the cover: Didem Altinbasak Tulgan, founder of Rafinera Cloud Kitchen (RCK) is on our cover this week.  RCK, which was the first daily meal plan service company in Turkey and the second in Europe, has already reached 21 registered brands that appeal to different target audiences. “Backed by a 15-year of expertise in daily meal plan service, one-year-old RCK is targeting global expansion with the USD 5m funding it expects from the series A investment tour to start by 2023,” said Didem Altinbasak Tulgan. You can read more on pages 8-9.

>> Professor Ilter Turan: China reconfirms Xi Jinping’s leadership. P. 10.

>> Q&A: Tuncay Tursucu, Founder of Tuncay Tursucu Danismanlik. P. 11.

>> ‘Technological innovation will prove decisive after 2025’, according to our Chief Economist Gunduz Findikcioglu. You can read the details on pages 12-13.

>> Our Foreign Policy Columnist Zeynep Gurcanli says ‘something is shifting in Syria’ on page 14.


>> R&D expenditures reached USD 9.1bn in the country last year, according to TurkStat. The share of R&D expenditures in GDP reached 1.13% in 2021, hitting an all-time high.

>> The number of active labor force programs decreased from 80,615 to 35,732 in January-September, compared to the same period of the previous year, according to the data from the Turkish Employment Agency (ISKUR). The number of participants in these programs fell from 381,349 to 145,318 in the same period. 

>> The Turkish ready-wear and garment industry’s exports totaled USD 16.17bn in January-September, according to the Turkish Exporters’ Assembly (TIM). 

>> Akbank’s investment arm, Ak Portfoy, has launched its ‘Tarim ve Gida Teknolojileri Degisken Fund.’The fund enables 20 global and domestic companies to invest in the agriculture and food sectors.

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