↓ SCROLL TO SEE MORE ↑

What are you looking for?

News

Turkish foreign exchange reserves have grown from $27.5B in 2002 to $95B – Erdoğan

Turkish foreign exchange reserves have grown from $27.5B in 2002 to $95B – Erdoğan

Turkey boasts strong foreign currency reserves and its economy is well positioned to compete on the world stage, said the nation’s president on Monday.

“The Central Bank had $27.5 billion in foreign exchange reserves when we took office,” in fall 2002, said Recep Tayyip Erdoğan, adding that now, it has $95 billion.

Speaking to the Izmir Provincial Congress of his ruling Justice and Development (AK) Party, Erdogan said Turkey’s reserves are poised to grow larger still.

He also explained: “All foreign exchange transactions in Turkey comply with the law and market rules and involve no exploitation, unfair gain, or illegal or immoral dealings.”

At the heart of Turkey’s breakthroughs in the energy sector – including its discovery of natural gas reserves in the Black Sea last year – are the strategies and groundwork developed under onetime Energy and Natural Resources Minister Berat Albayrak, who also served as finance and treasury minister, said Erdogan.

Erdoğan also criticized those who have derided Albayrak’s efforts and success.

News

Ankara is ready to provide any support needed to Croatia in the post-earthquake revival of the damaged provinces, Foreign Minister Mevlüt Çavuşoğlu said Friday....

News

As it seeks to preserve its growing forests, both again pests and fires, Turkey taps into new technology. A new set of high-technology drones, which...

News

Turkey’s pedestal-mounted low-altitude air defense system Sungur completed a test with pinpoint firing accuracy against a moving target at maximum range and altitude, the...

News

The Turkish tourism industry representatives put their hope in measures that the country has required from facilities to allow for safe holidays amid the...

COVID-19 STATS

The new coronavirus, or COVID-19, originally surfaced in Wuhan, Hubei province, China, in December 2019. The World Health Organization (WHO) described the outbreak as...

COVID-19 STATS

The new coronavirus, or COVID-19, originally surfaced in Wuhan, Hubei province, China, in December 2019. The World Health Organization (WHO) described the outbreak as...

Announcements

Despite Turkey having managed to bring down its daily coronavirus fatalities from 100, challenges remain. Ahead of a planned normalization period, which will likely...

News

For a while, the coronavirus outbreak was almost a blessing for Istanbul’s notorious traffic. When the curfews were imposed and people started heading to resort...