A pre-holiday recap

TURKEY - Report 29 Apr 2022 by Murat Ucer and Atilla Yesilada

The Turkish markets will be closed through Wednesday next week, because of the Eid al-Fitr or Ramadan Holiday. In this note, we provide a quick update on the latest state of affairs in politics, and review some of the recent data releases on the econ side.

The conviction of Osman Kavala to life without parole, and his purported accomplices to long prison terms for allegedly organizing Gezi protests opened a Pandora’s Box of trouble for the Erdogan administration. The politics author thinks President Erdogan lost any goodwill he might have accrued in the West, as the opposition found a new cause to unite around. There will be shockwaves from the verdict working their way through several channels.

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