Free Trial

Tourism Sector Expected Tough Season

TURKEY
  • The CBRT minutes cross later today, after what was a relatively uneventful unchanged rate decision earlier in April. The release is due at 2pm Ankara time (1200BST / 0700ET)
  • On the sidelines of the G20 meeting, the Turkish finance minister met with a number of US executives of prominent US companies, presenting Turkey’s investment potential alongside the CBRT governor.
  • Sozcu reports that Turkey’s tourism sector (near 15% of the economy) is expecting a difficult summer season, with providers having to cut costs in order to compete with other destinations in Spain and Greece.
  • Dunya writes that non-performing loans in Turkey have increased by 48% Y/Y, with the loss of purchasing power by inflation and FX volatility hampering repayments. Citing Turkish bank association data, the % of loans due to be liquidated has increased by 1.4 ppts to 4.3%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.