What matters this morning

“Confidence and stability for Turkey”

The headline above is the chosen slogan for the AK Party’s 7th Ordinary Grand Congress to be held today. All eyes will be at the congress during the day, not only because Turkey has become a highly political country, but because some changes are expected in the presidential cabinet. Considering the latest replacements in the economy management, new names for the ministries related to economy may sound too much. However, if the “confidence and stability” of the country is in question, we may (or not) face more…

The reason for the expectation is a party higher-up. Speaking live at a TV channel yesterday, AK Party Vice President Mahir Unal gave signals of a cabinet reshuffle. “For our 2023 targets, our President (Recep Tayyip Erdogan) will make a new arrangement with his team, not only within the party, but also in other fields,” said Unal. “We will see this in the coming days.”

Daily DUNYA’s experienced parliament reporter and TR Monitor columnist Canan Sakarya also thinks that the change in the party administration will be definitely reflected in the cabinet. President will establish the cadres that will lead the party to the 2023 elections, an ‘election cabinet’ will be formed in sense, she reported on Monday.

The cabinet is expected to include names with political background, according to the rumors in Ankara, Sakarya said. “After the transition to the new system, the lack of politician ministers in the cabinet was expressed from time to time within the AK Party. There were tweaks that the ministers were inadequate to respond to the criticisms, especially from the opposition. That is why the cabinet will be strengthened with names with political background,” she reported.

Some ministries may also be divided due to the increased workload, and the number of deputy presidents could be increased to two. Erdogan will also unveil a manifesto and a road map for 2023 elections…

If we come back to 2021, March 24, and other developments of the day, USD/TRY stands at 7.86, yesterday’s closing levels. EUR/TRY is traded at 9.35.

Depreciated by 6% and fell to USD 60 yesterday, brent crude is traded at USD 61,44. Gold prices continue to move around USD 1,731 as they have been in the recent days.


The 7th Ordinary Grand Congress of the AK Party will start at 10.00 with the participation of President Erdogan.

Central Bank Governor Sahap Kavcioglu will meet the executives of the banks that are not represented by the Banks Association of Turkey (TBB).

Consumer Confidence Index prepared by Turkish Statistical Institute (TurkStat) and Central Bank will be released. The index increased by 1.5% to 84.5 in February.

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