A busy agenda awaits the economic management in October.
Minister of Trade Ömer Bolat is scheduled to announce foreign trade figures for September in Ankara on October 2. Last month, the highest August export in the history of the Republic was realized with 22 billion 48 million dollars.
Fatih Karahan, Governor of the Central Bank of the Republic of Turkey (CBRT), will make a presentation at the Grand National Assembly of Turkey Planning and Budget Commission on October 3. Karahan is expected to make a comprehensive presentation to the members of the commission within the framework of global developments, Turkish economy, inflation and monetary policy.
On the same day, Turkish Statistical Institute (TUIK) will announce inflation data for September. Consumer Price Index (CPI) increased by 2.47 percent and Domestic Producer Price Index (D-PPI) increased by 1.68 percent on a monthly basis in August. Annual inflation was calculated as 51.97 percent in consumer prices and 35.75 percent in domestic producer prices.
TurkStat will announce the real return rates of financial investment instruments for September to the public on October 8. When discounted with the consumer price index (CPI), gold bullion provided the highest monthly real return in August with 4.01 percent.
UNEMPLOYMENT AND INDUSTRIAL PRODUCTION DATA WILL BE ANNOUNCED
The institution will announce the labor force statistics and industrial production index for August on October 10. The unemployment rate in Turkey decreased by 0.4 points in July compared to the previous month, reaching 8.8 percent. The industrial production index increased by 0.4 percent on a monthly basis in July and decreased by 3.9 percent on an annual basis.
Balance of payments data will be shared with the public by the Central Bank on October 11. There was a surplus of 566 million dollars in Turkey’s current account in July, and a surplus of 4 billion 879 million dollars in the current account excluding gold and energy.
The Ministry of Treasury and Finance will announce the September central government budget results to the public on October 15.
TurkStat will announce the 3rd quarter tourism statistics at the end of October. Turkey’s tourism revenue increased by 11.8 percent in the second quarter of the year compared to the same period last year, reaching 14 billion 875 million 518 thousand dollars.
It is expected that TEKNOFEST, which will be held in Adana between 2-6 October, will include aviation, space and technology enthusiasts as well as economic management.
BUDGET MARATHON WILL START IN THE ASSEMBLY
Preparations of ministries and institutions for the 2025 budget continue intensively. The 2025 central government budget must be presented to the Turkish Grand National Assembly in October. During the budget marathon, the budgets of ministries and institutions will be discussed first in the GNAT Planning and Budget Commission and then in the General Assembly. The parliament’s budget work is expected to continue until the end of the year.
The 2025 Presidential Annual Program is planned to be announced in October.
EYES WILL BE ON THE CENTRAL BANK AND GROWTH DATA IN THE LAST QUARTER
CBRT Governor Karahan is expected to announce the last inflation report of the year on November 8. The messages Karahan will give will be closely followed by the economy and markets.
The Central Bank will share the Financial Stability Report with the public on November 29. The Bank will evaluate the developments regarding financial stability and the effects of the measures taken on the financial sector.
TurkStat is expected to announce gross domestic product data for the third quarter of the year on November 29. Turkish economy grew by 2.5 percent in the second quarter of the year. Thus, the Turkish economy displayed growth performance for 16 consecutive quarters.
Another data that the markets will follow closely will be the Central Bank Monetary Policy Committee (MPC) meetings. The Board, whose meeting calendar was planned as October 17, November 21 and December 26, kept the policy rate, which is the one-week repo auction interest rate, at 50 percent at its last meeting.
