Category: Mehmet Simsek

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Turkey Scraps Planned Crypto Tax, Targets Economic Reforms

Turkey has decided not to move forward with a new tax targeting stock market and cryptocurrency gains, according to Vice President Cevdet Yilmaz. While previously discussed, the plan has been dropped, with the government focusing instead on reducing tax exemptions. This shift follows concerns about the stock market and broader efforts to stabilize the economy…
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Turkish Lira Plunges to Record Low a Day After Central Bank’s Interest Rate Policy U-Turn

The Turkish lira fell to 25.74 per dollar just under a day after the central bank hiked interest rates for the first time since 2021. Although the rate hike decision was widely anticipated, the increase still fell short of the 21% that some analysts had predicted. Turkish Lira Down 21% Since the Start of 2023…
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