Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Wednesday, 28 May 2025

Weekly Brief: Turkey’s Political and Economic Developments (May 21–28, 2025)

 

🔹1. Erdoğan Commissions New Constitution Amid Speculations of Extended Rule

President Recep Tayyip Erdoğan has tasked a group of 10 legal scholars with drafting a new Turkish constitution, citing the need to move beyond the remnants of the 1980 military coup-era charter. While Erdoğan emphasizes democratization, opposition figures argue the initiative may be aimed at bypassing the two-term presidential limit to secure a run in 2028, which is currently barred under existing law without an early election or constitutional amendment.


🔹2. Revelations Continue in Istanbul Municipality Corruption Probe

A corruption investigation involving Istanbul Metropolitan Municipality (İBB) continues, now expanding with new testimony from a suspect, Şeyhmus Sarıboğa. Initially denying involvement, Sarıboğa later confirmed he was the person referenced in statements by another suspect, Ahmet Çiçek. The inquiry, which implicates İBB officials including suspended Mayor Ekrem İmamoğlu, includes charges such as bribery, rigging bids, and misuse of public funds. Sarıboğa described his role as merely following orders as a junior staffer but requested leniency under effective remorse provisions.


🔹3. PKK Announces Formal Dissolution, Opening New Phase in Kurdish Peace Process

On May 12, the PKK announced its official dissolution, ending a 40-year armed struggle. This development may herald a new phase for Kurdish rights discussions in Turkey, shifting the debate from military confrontation to political dialogue and civil reform.


🔹4. Energy Diplomacy: Fidan Meets Putin in Moscow

Turkish Foreign Minister Hakan Fidan met with Russian President Vladimir Putin on May 27 in Moscow, focusing on energy cooperation, including the Akkuyu Nuclear Plant and Gazprom partnerships. Simultaneously, the U.S. appointed Thomas Barrack as Special Envoy to Syria, signaling increased geopolitical attention on Ankara’s role in the region.


🔹5. Erdoğan, Aliyev, Sharif Convene in Strategic Laçın Summit

President Erdoğan attended a trilateral summit with Azerbaijani President Ilham Aliyev and Pakistani Prime Minister Shehbaz Sharif in Laçın, Azerbaijan. The event coincided with the inauguration of the new Laçın International Airport. The summit marked a symbolic alignment of the three nations in regional cooperation and infrastructure development.




🔹6. Additional Political Movements

  • Parliament Speaker Numan Kurtulmuş visited MHP leader Devlet Bahçeli.

  • Vice President Cevdet Yılmaz participated in the 18th Balkan Chiefs of Staff Conference in Istanbul.

  • AKP's Keçiören Women’s Branch leader Nuran Şeyhan joined the opening of a special needs education institution.


📊 Economic Highlights

1. Slower Growth Expected Amid Tight Monetary Policy

According to a Reuters survey on May 27, Turkey's GDP is estimated to have grown 2.3% in Q1 2025, with a full-year forecast of 3%, under the government's 4% target. Economists attribute the slower pace to restrictive monetary measures. OECD projections suggest a 2.6% growth rate for 2025, with inflation averaging 30.7%, underlining the necessity for continued fiscal and monetary discipline.


2. Social Assistance Expands

Social Services Minister Mahinur Özdemir Göktaş announced that financial aid had been disbursed to 163,295 families nationwide, emphasizing the government’s ongoing commitment to welfare support.


3. Youth Innovation Encouraged

Industry Minister Mehmet Fatih Kacır awarded students at a national science fair in Ankara, praising the new generation's role in shaping Turkey’s technological future.


4. Healthcare Fees Refunded After Oversight

A private hospital's 11,450 TL charge for a newborn's jaundice treatment was refunded following the Ombudsman Institution’s intervention, highlighting consumer protection improvements in Turkey's healthcare system.


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