What matters this morning

The COVID-19 pandemic shows an upward trend again prior to the 9-day holiday to start midnight. The number of daily coronavirus cases saw 7,304 and the death toll reached 48 in the last 24 hours.  Health Minister Fahrettin Koca said this week after the Cabinet meeting that the increase mainly stemmed from the regions, where vaccination is low. 61.2 million people have been inoculated in total, while 19.2 million people received the second dose in the country.

In parallel with this increase, delta variants tripled in a week, according to Koca. 750 delta cases have been confirmed in 36 provinces to date, he said, there were only three delta plus cases. Turkey still ranks sixth among 192 states with the highest number of COVID-19 cases by over 5.5 million in total, according to the Coronavirus Resource Center of John Hopkins.

Contrary to COVID-19 cases, foreign exchange rates show a more stable trend and even decline nowadays. USD/TRY dropped by 0.77% to 8.50, while EUR/TRY is traded at 10.07. Spot gold fell by 0.26% to USD 1,824 per ounce and brent crude saw USD 73.58 per barrel.


The number of paid employees including manufacturing, construction and trade-services sectors surged by 17.2% from 11.5 million to 13.5 million in May, compared to the same month of the previous year, according to the Turkish Statistical Institute (TurkStat).

Agricultural Input Price Index (Agricultural-IPI) jumped 24.43% in May, compared to the same month of the previous year, according to TurkStat. Agricultural-IPI also rose by 2.49% on a monthly basis.

The net international investment position posted USD 327bn deficit in May, according to the Central Bank. 

The central government’s budget posted USD 25bn deficit in June, according to the Ministry of Treasury and Finance.

The number of newly established companies increased by 113.4%, while the number of liquidated companies rose by 120.5% in June, compared to the previous month, according to the Union of Chambers and Commodity Exchanges of Turkey (TOBB).

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