Electrification: the first step towards Syrian revitalization
Evaluation Note/ Feride İnan, Anıl İsmet Aşcı 04/10/2023 - More than a decade has passed since the onset of the Syrian conflict, resulting in one of the most severe humanitarian crises in recent history. Over 50% of the nation's population, which was nearly 21 million before the conflict, has been displaced. Casualties, forced displacements, the destruction of infrastructure, and the disruption of economic connections have led to a collapse in industrial production and trade. In recent years, the economy has been further crippled by economic sanctions, the COVID-19 pandemic, and rising commodity prices exacerbated by the war in Ukraine. While the conflict continues to severely impact the well-being of Syrian individuals, political solutions have reached an impasse, and the current situation [More]
TEPAV Publishes "Turkish Economic Outlook", the first one of the new series
TEPAV is launching a new series on the Turkish economic outlook, based on the policies recently implemented or announced by the Turkish authorities, and global developments and expectations. The report will be published twice a year. 27/09/2023 - The report is prepared by Dr. Burcu Aydın Özüdoğru, Director of TEPAV's Center for Economic and Structural Policies. It covers global prospects, domestic policies, and the outlook on economic growth, labor market, inflation, public finance and external sector, and risks to the outlook. The highlights of the first report of the Turkish Economic Outlook series are as follows... Domestics policies announced towards more orthodoxy should be backed up by further actions Deterioration in inflation expectations, exchange rate shocks and tax hikes following the elections will likely to cause inflation remain high during the second half of 2023 and the first months of 2024. Based on the inflation targets announced at the Medium-Term Prog [More]
Macroeconomic fragility increased in the first quarter of 2023
According to the Macroeconomic Imbalance Indicators established by TEPAV and updated on a quarterly basis, although employment indicators continued to improve, macroeconomic fragility increased due to the increasing current account deficit and privat 26/09/2023 - Macroeconomic Imbalance Indicators Scoreboard which was established to strengthen the coordination between fiscal and monetary policies among European Union member states, to monitor macroeconomic policies and to improve the supervision of these policies were replicated for Turkey by TEPAV. The figures were updated following the publication of the source official statistics for the first quarter of 2023. Accordingly, while the rapid declines in external competitiveness indicators consisting of unit labor costs and real effective exchange rate continued in this quarter, the current account deficit indicator exceeded the threshold value for the first time after 2015 due to the increase in import expenditures well above export reven [More]
How nationalist are we when we pay taxes?
Evaluation Note / M. Coşkun Cangöz 15/08/2023 - It has been two months since the May 14, 2023 General Elections. Depending on the election results, the question "Is nationalism rising in Turkey?" has come to the agenda. Thus, while the votes of the nationalist segment represented by the Nationalist Movement Party (MHP) were around 3-5 percent in the 1970s, the proportion of voters represented by newly established parties such as the Grand Unity Party (BBP), the Reformist Democracy Party (later Millet Party) and the parties that recently split from the MHP (İyi Party, Zafer Party) pushed the level of 25 percent in the May 2023 elections. With the appointment of Mehmet Şimşek as the Minister of Treasury and Finance at a time of rising debate on nationalism, the debate on “retur [More]
Turkey's wage issue: Why do we talk about the minimum wage so much?
Evaluation Note/ H. Ekrem Cunedioğlu 15/08/2023 - At least one month every year, minimum wage negotiations are the main topic of the economic agenda. While the Minimum Wage Determination Commission met only once a year in the 2016-2021 period, it has started to meet twice a year for the last two years due to high rate of inflation. The rapid convergence of the minimum wage to the average wage and the fact that it has become the indicator that determines the standard of living of millions of laborers, and the fact that the minimum wage is below the hunger limit announced by Confederation of Turkish Trade Unions (TÜRK-İŞ) are frequently addressed by representatives of the labor sector. On the other hand, employer representatives accept the convergence of the minimum wage to the avera [More]
A new strategy for Türkiye is on the way Evaluation Note/ Nilgün Arısan Eralp
01/08/2023
The leaders of the European Union (EU) member states came together last week for one of their biannual summits. While these summits, which used to be closely followed in the past, are no longer of interest to anyone except those working direc
[More]
EU - Turkey Relations, European Union,
Energy transition journey to 2050 and hydrogen energy Evaluation Note / Arda Yakıcı
27/07/2023
In this article, we will provide a high level assessment of the Energy Transition towards 2050 in the context of the primary energy sources, and Green Hydrogen as an alternative form of clean energy.
Summary
The increasing global demand for
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Energy, hydrogen energy,
The 2023 budget may end up with a surprise Evaluation Note / M. Coşkun Cangöz
20/07/2023
The budget data for January-May point to a significant deterioration compared to the same period of the previous year. As a matter of fact, the budget, which posted a surplus of 124.6 billion TRY in the first five months of 2022, has poste
[More]
Budget, Turkish Economy,
TEPAV attended T20 Mid-Year Conference TEPAV participated in the T20 Mid-Year Conference held in Mumbai, India between 10-12 May 2023 with the T20 working group consisting of TEPAV Founding Director Güven Sak, G20 Studies Center Director M. Sait Akman and Economy Monitoring Center Director Gülbin Şahinbeyoğlu. They also contributed to the Task Force Statements, which will form the basis of the T20 Communique.
10/07/2023
T20 working group consisting of TEPAV Founding Director Güven Sak, G20 Studies Center Director M. Sait Akman and Economy Monitoring Center Director Gülbin Şahinbeyoğlu attended the T20 (Think20)
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T20,
TEPAV participated in G7 Panel Organised by German Council on Foreign Relations The results of the recent G7 Summit reveals that advanced economies prioritise a coordinated approach to economic security. It reflects their reunited position around the common purpose, mainly addressing China. Dr. Sait Akman, Director of TEPAV G20 Studies Center pointed out in the Panel that G7 is becoming more relevant as advanced economies seek for coordination on geopolitical, economic and security issues. He also emphasised that Türkiye’s role as a middle power and its involvement in global issues could face challenges.
26/06/2023
At the G7 Summit in Hiroshima, G7 members highlighted economic resilience and economic sec
[More]
G20 Studies Center, G7, G20,
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The Restless Geography: The European Union, Türkiye and the Balkans
Turkey's economy is like a sailing ship, going wherever the winds blow it
Turkey needs to increase its ‘readiness’ for future of production
