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TURKEY: Manufacturing Confidence Rises to 102.4, Russia ForMin Visits Ankara

TURKEY
BulletEM BulletEmerging Market News
  • Turkey's manufacturing confidence rose to 102.4 in February from 100.9 in January, according to data from the CBRT, marking the highest for the series since June 2024. Adjusted manufacturing confidence rose to 102.8 from 102.6 while capacity utilisation fell to 74.5% from 74.6%.
  • “We will maintain fiscal discipline by strengthening financial rules and enhance justice and efficiency in taxation,” Finance Mehmet Simsek wrote on X. “We will facilitate a green and digital transformation in the economy, increasing the production capacity across the country, through local development initiatives and industrial transformation,” the minister added.
  • FX loans continue to increase above the monthly growth limit of 1%, Ekonomi report, while their share among total commercial loans has now reached 50%. FX loans, which reached their highest level since September 2019 at $174.9bln, have increased by 4.3% since the end of 2024.
  • President Recep Tayyip Erdogan meets Russian Foreign Minister Sergei Lavrov at 11:00GMT/14:00 local time in Ankara. There are no other major data releases scheduled for today, with Q4-2024 GDP figures the highlight of the week on Friday.
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  • Turkey's manufacturing confidence rose to 102.4 in February from 100.9 in January, according to data from the CBRT, marking the highest for the series since June 2024. Adjusted manufacturing confidence rose to 102.8 from 102.6 while capacity utilisation fell to 74.5% from 74.6%.
  • “We will maintain fiscal discipline by strengthening financial rules and enhance justice and efficiency in taxation,” Finance Mehmet Simsek wrote on X. “We will facilitate a green and digital transformation in the economy, increasing the production capacity across the country, through local development initiatives and industrial transformation,” the minister added.
  • FX loans continue to increase above the monthly growth limit of 1%, Ekonomi report, while their share among total commercial loans has now reached 50%. FX loans, which reached their highest level since September 2019 at $174.9bln, have increased by 4.3% since the end of 2024.
  • President Recep Tayyip Erdogan meets Russian Foreign Minister Sergei Lavrov at 11:00GMT/14:00 local time in Ankara. There are no other major data releases scheduled for today, with Q4-2024 GDP figures the highlight of the week on Friday.