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Lavrov to Visit Turkey in April; Turkey Trade Deficit Narrows

TURKEY
  • Russian Foreign Minister Sergey Lavrov will visit Turkey for a two-day visit in the first week of April, Hurriyet report. A Russian Foreign Ministry Spokesperson said, “Lavrov will hold talks in Turkey between 6-7 April upon the invitation of Turkish Foreign Minister Mevlut Cavusoglu. Ministers will discuss the cooperation between the two countries in trade, energy and tourism and developments in Ukraine”. Yesterday, Erdogan said Russian President Vladimir Putin may travel to Turkey on April 27 to attend the inauguration ceremony of the Akkuyu Nuclear Power Plant.
  • According to banking regulator data seen by Dunya, total loans granted by banks to all sectors increased by a net 4.6% in the first two months of the year, reaching TRY6.2trln. Housing, vehicle and consumer loans, and consumer credit-card debts increased by 11% to almost TRY2trln.
  • Turkey’s Parliament on Thursday approved Finland’s NATO accession bid, becoming the last nation after Hungary to greenlight the Nordic country’s membership in the military bloc. All 276 lawmakers present voted unanimously in favour of Finland’s bid.
  • Turkey’s trade deficit narrowed to $12.079b (Est: -$12.20b) in February from a revised -$14.249b in January, according to data released by the Turkish Statistical Institute this morning. Exports fell 6.4% Y/Y, while imports rose 10.1% Y/Y.
  • S&P may update Turkey’s sovereign credit rating after hours today (current rating: B; Outlook Stable).
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