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Cash Withdrawals Decline for Third Consecutive Month

TURKEY
  • The upward trend in cash withdrawals from cards, which had been increasing in recent years due to low-interest rates, has reversed, Milliyet report. Cash withdrawals, which peaked at TRY85.6bln in April, have declined for three consecutive months, dropping to TRY44.2bln in July.
  • According to data from the Ministry of Commerce, the value of projects undertaken in January-August reached $11bln. It may reach the previous year’s level of $19bln by the end of the year.
  • There are no notable economic releases scheduled for today.

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