Latest news with #AgenciesTürkiye
Qatar Tribune
11-08-2025
- Business
- Qatar Tribune
Türkiye bags $1.8 bn foreign financing
Agencies Türkiye has secured 1.55 billion euros ($1.8 billion) in foreign financing for the Dörtyol-Hassa Highway and Railway Project, which is expected to significantly boost the competitiveness of the southeastern region. The funding is part of the government's ongoing efforts to attract international funding for infrastructure, particularly in areas affected by the devastating February 2023 earthquakes. The latest agreement was signed between the Treasury and Finance Ministry and a consortium of lenders led by France's Societe Generale, Anadolu Agency reported on financing is backed by the Swedish Export Credit Agency and the Islamic Corporation for the Insurance of Investment and Export Credit which operates under the Islamic Development Bank. Several commercial banks also joined under these guarantees. The southeastern region is still recovering from earthquakes that struck 11 provinces in February 2023, claiming more than 50,000 lives and destroying hundreds of thousands of buildings and severely damaging infrastructure. The project, overseen by the Transport and Infrastructure Ministry's Directorate General of Infrastructure Investments, will directly connect the Gulf of Iskenderun with southeastern Tü completed, it will link the gulf to industrial zones behind the Amanos Mountains and to the city of Gaziantep via both road and rail.
Qatar Tribune
03-08-2025
- Business
- Qatar Tribune
Turkish monthly exports hit $25 billion mark for first time in July
Agencies Türkiye's monthly exports achieved a new historic peak by hitting the $25 billion mark for the first time, according to a top official on Saturday. Turkish outbound shipments in July surged 11% compared to the year earlier, Trade Minister Ömer Bolat told an event in northern Samsun province, announcing the preliminary data. He recalled that the value of shipments stood at $22.5 billion in July of last year and drew attention to the fact that an additional $2.5 billion was added to exports when comparing the same month in 2024. 'We broke the highest monthly goods export record in our history in July. Consequently, we broke the highest export record for July in our history and as of July, we reached the highest total goods export figure in our history for the past year,' Bolat said. 'Another encouraging development: a slowdown in the rate of monthly import growth was achieved and the monthly foreign trade deficit in July narrowed significantly compared to the same month of the previous year and compared to June,' he added. At the same time, he noted that the export-to-import coverage ratio also improved. 'This is what we call a 'legendary month,' six major achievements in one. We reached an all-time high in monthly exports at $25 billion, up from $22.5 billion in July last year, an increase of $2.5 billion, or 11%,' the minister said exports in July increased by $4.5 billion compared to June, adding that the next target is to reach $26 billion in monthly exports. 'Our extraordinary efforts are reinforcing the process of rebalancing and stabilizing our economy,' he emphasized. Previously, the monthly record in exports was achieved in May this year with $24.8 also informed that the foreign trade deficit dropped to $6.4 billion last month, down 12% from $7.3 billion in July 2024, marking the lowest deficit in the past nine months. Moreover, when examining January-July exports, he stated that they reached $156.4 billion, representing a 5.2% year-over-year increase. He said that recent global conflicts, ranging from trade wars and tariff disputes, have caused sharp disruptions in global trade, growth, and commodity prices, including those of energy and gold. Despite regional instability, Bolat said that under the leadership of President Recep Tayyip Erdoğan, 'Türkiye continues its strong rise as a pillar of stability in the economy, foreign policy, defense, transportation and energy.'
