News from Turkey, September 17, 2024

🔺 Sabiha Gokcen and Istanbul airports served about 81 million passengers in the first 8 months of 2024. All airports in Turkey served around 155 million passengers in the same period.

🔺 According to the data of the Central Bank of Turkey for August 2024, the interest in real estate abroad among the citizens of the Republic continues to grow. In the first 7 months, the total amount of investments in foreign real estate increased by 23% compared to the same period last year.

🔺 Turkey is preparing a new draft decree, according to which landlords and tenants will be prohibited to make rental payments in cash. According to the draft, landlord and tenant who make cash payments will be fined a minimum of 5,000 liras.

🔺 International rating agency Fitch Ratings has upgraded Turkey's credit rating to 'BB-' from 'B+' and changed the rating outlook to 'stable'. Meanwhile, Fitch Ratings forecasts that Turkey's economy will grow by 3.5 percent this year and 2.8 percent in 2025.

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