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TURKEY: National Security Council Addresses Terrorism, Gaza Crisis

TURKEY
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  • The National Security Council meeting, chaired by President Erdogan yesterday, drew attention to the activities of the PKK terrorists in Syria and the ongoing crisis in Gaza. The four-hour-long meeting reiterated Turkey’s determination to eliminate terrorist organisations that target the country’s national security and safety in the region, according to Hurriyet.
  • Istanbul has seen a significant increase in tourism in the first four months of the year, breaking a visitor record with more than 5 million foreign visitors and marking an approximate 10 percent increase from the same period last year, Hurriyet report.
  • Looking ahead, GDP data for Q1 provides the highlight of the week on Friday. On a sequential and seasonally adjusted basis, GDP growth is expected to rise from 1.0% q/q in Q4 to 1.6% in Q1 and from 4.0% y/y to 5.8% in annual terms. Before that, trade balance figures for April will cross on Thursday (Est: -$9.90bn; Prior: -$7.34bn).
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  • The National Security Council meeting, chaired by President Erdogan yesterday, drew attention to the activities of the PKK terrorists in Syria and the ongoing crisis in Gaza. The four-hour-long meeting reiterated Turkey’s determination to eliminate terrorist organisations that target the country’s national security and safety in the region, according to Hurriyet.
  • Istanbul has seen a significant increase in tourism in the first four months of the year, breaking a visitor record with more than 5 million foreign visitors and marking an approximate 10 percent increase from the same period last year, Hurriyet report.
  • Looking ahead, GDP data for Q1 provides the highlight of the week on Friday. On a sequential and seasonally adjusted basis, GDP growth is expected to rise from 1.0% q/q in Q4 to 1.6% in Q1 and from 4.0% y/y to 5.8% in annual terms. Before that, trade balance figures for April will cross on Thursday (Est: -$9.90bn; Prior: -$7.34bn).