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Top related persons:
Abdulkadir Selvi - 1 Tayyip Erdogan - 1 Nevzat Devranoglu - 1 Daren Butler - 1 Christina Fincher - 1
Top related locs:
ISTANBUL
Top related orgs:
Hurriyet - 1 Ece Toksabay - 1 Thomson - 1

Search resuls for: "Nevzat Devranoglu Daren Butler"


2 mentions found


☆ Turkish lira hits record low ahead of rate decision
  + stars: | 2023-07-18 | by ( Nevzat Devranoglu Daren Butler | Nevzat Devranoglu | Daren Butler | ) www.reuters.com   time to read: +2 min
The lira hit a record low of 26.9 against the U.S. currency, sliding from Monday's close of 26.3505. The central bank will announce its rate decision at 1100 GMT on Thursday. "News saying that the central bank's interest rate hike will be below market expectations is triggering the lira depreciation," said one trader. But June's hike was below expectations, with economists saying Erdogan's influence over the central bank limits how far they can go in tightening policy. Turkey's annual inflation surged to a 24-year high of 85.51% last October, mainly due to lira depreciation because of Erdogan's policy of low rates.
Persons: Abdulkadir Selvi, Tayyip Erdogan, Nevzat Devranoglu, Daren Butler, Christina Fincher Organizations: Hurriyet, Ece Toksabay, Thomson Locations: ISTANBUL
☆ Factbox: Turkey's raft of pre-election spending to swell budget
  + stars: | 2022-12-30 | by ( Nevzat Devranoglu Daren Butler | Nevzat Devranoglu | Daren Butler | ) www.reuters.com   time to read: +5 min
The 2023 budget includes 4.47 trillion lira ($239 billion) in spending and sees a deficit of about 3.5% of GDP for this year and next. "The annual salary burden is likely to reach approximately 150-180 billion lira, whereas the severance pay burden that will be shouldered by both the public and private sectors may exceed 300 billion lira," he said. A total of 142.9 billion lira has been earmarked for 2023 spending in the farm sector on support programmes and investment payments. SOCIAL AID, OTHER SPENDING:Spending on social aid in the 2023 budget was raised to 258.4 billion lira. Spending on education will be 650 billion lira, while 145.4 billion lira was set aside for support to the real sector.
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