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Erdogan to Chair Cabinet Meeting Today

TURKEY
  • President Erdogan will chair a cabinet meeting in Ankara on Monday. Developments in the Russia-Ukraine conflict and tensions with UN forces in Cyprus will be discussed, Hurriyet report. Furthermore, strategies to attract more foreign investment and additional measures against inflation will be deliberated.
  • Certain industries have not yet incorporated the July VAT increase into their prices, as the already high price levels are damping consumer demand, Dunya report.
  • Hungarian Prime Minister Orban held talks with Turkish President Erdogan on Sunday in Budapest where bilateral energy cooperation and the matter of ratifying Sweden's accession to NATO were on the agenda of talks, Minister of Foreign Affairs and Trade Szijjarto said. An agreement establishing a priority strategic partnership and offering mutual assistance in emergency situations will be signed at another visit by Erdogan to Budapest on December 18, he added.
  • The CBRT key rate decision is the highlight of the week on Thursday. The median estimate of the Bloomberg survey sees a further 250bp hike to 20%. Our full preview of the decision will be released later this week.
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