Bussiness and financial district of Levent is seen from the Sapphire Tower in Istanbul, Turkey. Reuters
One in every eight Turkish lira is now generated by the nation’s travel and tourism sector. According to a recent report, the tourism sector contributed TL461.3 billion ($95.6 billion) to the country’s economy in 2018,
Turkey predicts annual real economic growth at 4.3% on average between 2019-2023, it said on Monday in an ambitious five-year development plan promising efficiency and competitiveness.
The Turkish economy shrank sharply year on year for the second straight quarter in early 2019, laying bare the impact of a punishing currency crisis and soaring inflation and interest rates against a tense political backdrop.
Europe's biggest bank said it had been hit by falling interest rates disruption caused by the coronavirus and political tensions between the US and China.
Brent crude futures slid 27 cents, or 0.6%, to $43.25 a barrel by 0642 GMT. US West Texas Intermediate (WTI) crude futures were down 34 cents, or 0.8%, at $39.93.
The pan-European STOXX 600 index were up 0.1% at 0714 GMT, with technology, automakers and oil & gas firms leading the gains.