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TURKEY: Former CBRT Chief Economist Does Not Expect ‘Hard Landing’

TURKEY
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  • Former CBRT Chief Economist Ali Hakan Kara said that the Turkish economy is experiencing a short-term balancing and normalisation process, adding that, “Monetary policy will remain tight for a long time. At this stage, the soft landing scenario will be the basis. I do not expect a hard landing. The most important issue is the sustainability of the program.” The comments were made at a summit hosted by Ekonomi newspaper.
  • The German government has approved arms exports worth hundreds of million euros to Turkey after curbing shipments in recent years, Der Spiegel reported over the weekend citing a list from the Ministry of Economic Affairs. The total value of the licenses granted was about €336 million, according to Der Spiegel.
  • Data-wise, cash budget balance figures for September cross this afternoon, with unemployment rate, industrial production, current account and inflation expectations figures all due later in the week.
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  • Former CBRT Chief Economist Ali Hakan Kara said that the Turkish economy is experiencing a short-term balancing and normalisation process, adding that, “Monetary policy will remain tight for a long time. At this stage, the soft landing scenario will be the basis. I do not expect a hard landing. The most important issue is the sustainability of the program.” The comments were made at a summit hosted by Ekonomi newspaper.
  • The German government has approved arms exports worth hundreds of million euros to Turkey after curbing shipments in recent years, Der Spiegel reported over the weekend citing a list from the Ministry of Economic Affairs. The total value of the licenses granted was about €336 million, according to Der Spiegel.
  • Data-wise, cash budget balance figures for September cross this afternoon, with unemployment rate, industrial production, current account and inflation expectations figures all due later in the week.