Episode 20-Turkey’s Economic Shift: Crisis or Comeback?

Since the May 2023 Presidential elections, Turkey's economic policy has changed significantly. Mehmet Şimşek, now the finance minister, signals a return to orthodox economic policymaking. This includes raising interest rates and implementing key reforms.

However, challenges persist with a weak currency, high inflation, and declining FDI. The March 2024 local elections marked a critical moment as Erdogan and the AKP suffered a major defeat.

In our 20th episode, we spoke with Serhat Süha Çubukçuoğlu from TRENDS Research and Advisory, an Abu-Dhabi based geopolitical advisory firm based

In this episode, we covered several topics including:

• Look at Turkey's economic reforms since 2023 Presidential elections
• Examining the rapprochement with Gulf countries like the UAE and Saudi Arabia
• Turkey's FDI landscape and the challenges in attracting capital

You can email your comments, feedback or suggestions to us: hassan@majlisandmarkets.com

Intro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay

Chapters

• 0:57 Monologue intro
• 2:41 Serhat's background
• 8:00 Economic and foreign policy until May 2023
• 14:54 Shifting economic policymaking
• 20:08 Appointment of new economic team
• 24:47 Currency troubles
• 28:27 Failure of Erdoganomics
• 32:59 Why shifting now?
• 35:30 Foreign policy shifts
• 41:55 Gulf investments in Turkey
• 44:48 Foreign direct investment
• 49:54 Data protection reform
• 52:14 2024 March local elections
• 55:06 Turkish economy going forward
• 56:47 Current and upcoming projects
• 58:29 Social media accounts