Heads of state and government of NATO members meet at the Beştepe Presidential Complex in Ankara on 7-8 July. The 36th NATO summit and the second hosted by Türkiye; agenda includes defence spending, the Alliance's southern flank and the largest-ever NATO defence-industry forum.
NATO comes to Ankara as Erdoğan tightens his hold at home
Turkey hosts NATO's Ankara summit this week -- Foreign Minister Hakan Fidan vows Ankara will help define “NATO 3.0” -- even as courts ejected opposition leader Ekrem İmamoğlu from his own corruption trial and prosecutors arrested a comedian for mocking Erdoğan. Trump meets Zelensky and Syria's Ahmed al-Sharaa on the sidelines, while Ankara simultaneously deepens a Saudi-Egypt-Pakistan-Qatar axis built to hedge against the very alliance it is co-authoring.
Upcoming
24 key official events aheadMonthly unemployment and employment data for June. TÜİK publishes Labour Force Statistics on the 15th of each month (or the next working day) at 10:00 Ankara time; 15 July falls in the release window.
Seventh of eight 2026 MPC meetings. Policy-rate decision and statement published at 14:00 Ankara time.
Monthly CPI print for July. Released around the 3rd of the month at 10:00 Ankara time.
Third of the CBRT's four quarterly Inflation Reports for 2026, presented at a Governor's briefing. Updates the bank's inflation forecasts and outlook, closely watched for any revision to the year-end inflation projection.
Monthly unemployment and employment data for July, released in the mid-month window (around the 15th) at 10:00 Ankara time.
Second-quarter gross domestic product print, the headline growth reading. TÜİK publishes quarterly GDP roughly two months after the quarter ends; the Q2 release lands around 1 September.
Monthly CPI print for August. Released around the 3rd of the month at 10:00 Ankara time.
Eighth scheduled 2026 MPC meeting (counting from January). Policy-rate decision and statement published at 14:00 Ankara time.
Monthly CPI print for September; the 3rd falls on a weekend so the release shifts to the first working day. Published at 10:00 Ankara time.
Penultimate 2026 MPC meeting. Policy-rate decision and statement published at 14:00 Ankara time.
Monthly CPI print for October. Released around the 3rd of the month at 10:00 Ankara time.
Final quarterly Inflation Report of 2026, presented at a Governor's briefing. Sets out the bank's updated inflation forecasts heading into 2027.
Monthly unemployment and employment data for October, released in the mid-month window (15th falls on a weekend, shifting to the next working day) at 10:00 Ankara time.
Second of the CBRT's two semi-annual Financial Stability Reports for 2026, assessing risks in the banking system, credit, FX and external balances.
Monthly CPI print for November. Released around the 3rd of the month at 10:00 Ankara time.
Final 2026 MPC meeting. Policy-rate decision and statement published at 14:00 Ankara time; the last rate-setting decision of the year.
Annual monetary-policy framework document for the coming year, which also publishes the full 2027 schedule of MPC meeting and report dates. Sets out the inflation target and policy approach for 2027.
Third-quarter gross domestic product print. TÜİK publishes quarterly GDP roughly 80 days after the quarter ends; the Q3 release lands in late December. (provisional date pending TÜİK release calendar)
Monthly CPI print for December and the full-year 2026 inflation figure; 3 January falls on a weekend so the release shifts to the first working day. Published at 10:00 Ankara time.
First MPC meeting of 2027, expected in the fourth week of January in line with the CBRT's usual cadence. (provisional date; the official 2027 schedule is published with the December 2026 monetary-policy text)
Monthly CPI print for January 2027. Released around the 3rd of the month at 10:00 Ankara time. (provisional; based on TÜİK's standard ~3rd-of-month cadence)
First quarterly Inflation Report of 2027, presented at a Governor's briefing with updated inflation forecasts. (provisional date; the 2026-I report was published on 12 February 2026 and the exact 2027 date is confirmed with the December 2026 schedule)
AKP signals a possible referendum on a new constitution, linked to the renewed Kurdish peace process and a potential reset of presidential term limits. Targeted for autumn 2026 or, more likely, spring 2027. (provisional; no official date called, exact date is speculative)
Recent events
tr48NATO Ankara Summit to host leaders from over 40 countries with $70 trillion economic output, says ITO head
Background: The 2026 NATO Summit in Ankara was previously confirmed for July 7-8, with Turkey positioning itself as a mediator and key ally amid transatlantic tensions. Today's development: The Istanbul Chamber of Commerce (ITO) head Sekib Avdagic announced that the summit will bring together leaders from over 40 countries representing a combined economic output of $70 trillion, underscoring Türkiye's central role in European security and economic architecture. The summit will feature the NATO Summit Defense Industry Forum, highlighting Türkiye's growing defense industry, including contributions from Teknopark Istanbul. Avdagic also noted that NATO Secretary General Mark Rutte has stated some 3,000 Turkish defense firms operate across the alliance.
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NATO Ankara Summit to host leaders from over 40 countries with $70 trillion economic output, says ITO head
Background: The 2026 NATO Summit in Ankara was previously confirmed for July 7-8, with Turkey positioning itself as a mediator and key ally amid transatlantic tensions. Today's development: The Istanbul Chamber of Commerce (ITO) head Sekib Avdagic announced that the summit will bring together leaders from over 40 countries representing a combined economic output of $70 trillion, underscoring Türkiye's central role in European security and economic architecture. The summit will feature the NATO Summit Defense Industry Forum, highlighting Türkiye's growing defense industry, including contributions from Teknopark Istanbul. Avdagic also noted that NATO Secretary General Mark Rutte has stated some 3,000 Turkish defense firms operate across the alliance.
Background: The 2026 NATO Summit in Ankara was previously confirmed for July 7-8, with Turkey positioning itself as a mediator and key ally amid transatlantic tensions. Today's development: The Istanbul Chamber of Commerce (ITO) head Sekib Avdagic announced that the summit will bring together leaders from over 40 countries representing a combined economic output of $70 trillion, underscoring Türkiye's central role in European security and economic architecture. The summit will feature the NATO Summit Defense Industry Forum, highlighting Türkiye's growing defense industry, including contributions from Teknopark Istanbul. Avdagic also noted that NATO Secretary General Mark Rutte has stated some 3,000 Turkish defense firms operate across the alliance.
tr48Turkey, Saudi Arabia, Egypt, Pakistan form consultative axis amid regional security shifts
Turkey, Saudi Arabia, Egypt, and Pakistan have deepened diplomatic and security consultations, forming a de facto axis in response to shared threats from the US-Israeli war on Iran and the closure of the Strait of Hormuz. The grouping, which excludes the UAE, has held multiple high-level meetings and signed military cooperation deals, signaling a move away from reliance on US security guarantees toward a regional security framework.
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Turkey, Saudi Arabia, Egypt, Pakistan form consultative axis amid regional security shifts
Turkey, Saudi Arabia, Egypt, and Pakistan have deepened diplomatic and security consultations, forming a de facto axis in response to shared threats from the US-Israeli war on Iran and the closure of the Strait of Hormuz. The grouping, which excludes the UAE, has held multiple high-level meetings and signed military cooperation deals, signaling a move away from reliance on US security guarantees toward a regional security framework.
Turkey, Saudi Arabia, Egypt, and Pakistan have deepened diplomatic and security consultations, forming a de facto axis in response to shared threats from the US-Israeli war on Iran and the closure of the Strait of Hormuz. The grouping, which excludes the UAE, has held multiple high-level meetings and signed military cooperation deals, signaling a move away from reliance on US security guarantees toward a regional security framework.
tr44Turkey's Foreign Ministry Transformed into Intelligence Hub Under Former Spy Chief Hakan Fidan
Turkey's Foreign Ministry, under former intelligence chief Hakan Fidan, has been restructured into a security-oriented bureaucracy. The 2026 Performance Program reveals a shift from traditional diplomacy to intelligence gathering, military alignment, and narrative control. The ministry now prioritizes geopolitical competition, combats terrorist financing (often targeting critics), and monitors international media, reflecting Fidan's integration of intelligence into foreign policy.
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Turkey's Foreign Ministry Transformed into Intelligence Hub Under Former Spy Chief Hakan Fidan
Turkey's Foreign Ministry, under former intelligence chief Hakan Fidan, has been restructured into a security-oriented bureaucracy. The 2026 Performance Program reveals a shift from traditional diplomacy to intelligence gathering, military alignment, and narrative control. The ministry now prioritizes geopolitical competition, combats terrorist financing (often targeting critics), and monitors international media, reflecting Fidan's integration of intelligence into foreign policy.
Turkey's Foreign Ministry, under former intelligence chief Hakan Fidan, has been restructured into a security-oriented bureaucracy. The 2026 Performance Program reveals a shift from traditional diplomacy to intelligence gathering, military alignment, and narrative control. The ministry now prioritizes geopolitical competition, combats terrorist financing (often targeting critics), and monitors international media, reflecting Fidan's integration of intelligence into foreign policy.
tr40Turkey marks 33rd anniversary of Başbağlar massacre amid PKK dissolution initiative
Turkey commemorated the 33rd anniversary of the Başbağlar massacre, where PKK militants killed 33 civilians in Erzincan province on July 5, 1993. The ceremony, attended by government and opposition figures, highlighted the ongoing 'terror-free Türkiye' initiative aimed at dissolving the PKK, which has declared its dissolution. Officials and family members laid flowers at a monument, observed a minute of silence, and read messages from President Erdoğan. The event underscores Turkey's efforts to address past terrorism and promote national unity.
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Turkey marks 33rd anniversary of Başbağlar massacre amid PKK dissolution initiative
Turkey commemorated the 33rd anniversary of the Başbağlar massacre, where PKK militants killed 33 civilians in Erzincan province on July 5, 1993. The ceremony, attended by government and opposition figures, highlighted the ongoing 'terror-free Türkiye' initiative aimed at dissolving the PKK, which has declared its dissolution. Officials and family members laid flowers at a monument, observed a minute of silence, and read messages from President Erdoğan. The event underscores Turkey's efforts to address past terrorism and promote national unity.
Turkey commemorated the 33rd anniversary of the Başbağlar massacre, where PKK militants killed 33 civilians in Erzincan province on July 5, 1993. The ceremony, attended by government and opposition figures, highlighted the ongoing 'terror-free Türkiye' initiative aimed at dissolving the PKK, which has declared its dissolution. Officials and family members laid flowers at a monument, observed a minute of silence, and read messages from President Erdoğan. The event underscores Turkey's efforts to address past terrorism and promote national unity.
tr38Natural disasters damage nearly 900,000 hectares of farmland across 70 Turkish provinces in first half of 2026
The Union of Turkish Chambers of Agriculture (TZOB) reported that natural disasters—including floods, hail, storms, and frost—damaged nearly 900,000 hectares of agricultural land across more than 70 Turkish provinces during the first half of 2026. TZOB Chair Şemsi Bayraktar warned that the increasing frequency and severity of extreme weather is threatening food supply and the rural economy, and called for financial aid and debt restructuring for uninsured farmers. He noted that floods and flash floods accounted for nearly half of the damaged area, with 28 provinces affected by floods, 22 by frost, 14 by excessive rainfall, 14 by hail, 9 by storms, 9 by heavy snowfall, and 6 each by landslides and tornadoes. Bayraktar cited high insurance premiums relative to incomes as a barrier to coverage, reinforcing the need for direct financial assistance and debt restructuring for uninsured farmers.
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Natural disasters damage nearly 900,000 hectares of farmland across 70 Turkish provinces in first half of 2026
The Union of Turkish Chambers of Agriculture (TZOB) reported that natural disasters—including floods, hail, storms, and frost—damaged nearly 900,000 hectares of agricultural land across more than 70 Turkish provinces during the first half of 2026. TZOB Chair Şemsi Bayraktar warned that the increasing frequency and severity of extreme weather is threatening food supply and the rural economy, and called for financial aid and debt restructuring for uninsured farmers. He noted that floods and flash floods accounted for nearly half of the damaged area, with 28 provinces affected by floods, 22 by frost, 14 by excessive rainfall, 14 by hail, 9 by storms, 9 by heavy snowfall, and 6 each by landslides and tornadoes. Bayraktar cited high insurance premiums relative to incomes as a barrier to coverage, reinforcing the need for direct financial assistance and debt restructuring for uninsured farmers.
The Union of Turkish Chambers of Agriculture (TZOB) reported that natural disasters—including floods, hail, storms, and frost—damaged nearly 900,000 hectares of agricultural land across more than 70 Turkish provinces during the first half of 2026. TZOB Chair Şemsi Bayraktar warned that the increasing frequency and severity of extreme weather is threatening food supply and the rural economy, and called for financial aid and debt restructuring for uninsured farmers. He noted that floods and flash floods accounted for nearly half of the damaged area, with 28 provinces affected by floods, 22 by frost, 14 by excessive rainfall, 14 by hail, 9 by storms, 9 by heavy snowfall, and 6 each by landslides and tornadoes. Bayraktar cited high insurance premiums relative to incomes as a barrier to coverage, reinforcing the need for direct financial assistance and debt restructuring for uninsured farmers.
tr33Dutch defense chief says Türkiye's NATO role will grow as US scales back capabilities
Background: German Foreign Minister Johann Wadephul previously called for a stronger NATO with greater European burden-sharing. Today, Dutch Chief of Defense Gen. Onno Eichelsheim stated that Türkiye's role within NATO will increase as the US reduces some military capabilities. He urged European allies to take greater responsibility, implement the 3.5% defense spending target, and invest in resilient societies and defense industries. Eichelsheim praised Türkiye's defense industry and highlighted opportunities for bilateral cooperation.
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Dutch defense chief says Türkiye's NATO role will grow as US scales back capabilities
Background: German Foreign Minister Johann Wadephul previously called for a stronger NATO with greater European burden-sharing. Today, Dutch Chief of Defense Gen. Onno Eichelsheim stated that Türkiye's role within NATO will increase as the US reduces some military capabilities. He urged European allies to take greater responsibility, implement the 3.5% defense spending target, and invest in resilient societies and defense industries. Eichelsheim praised Türkiye's defense industry and highlighted opportunities for bilateral cooperation.
Background: German Foreign Minister Johann Wadephul previously called for a stronger NATO with greater European burden-sharing. Today, Dutch Chief of Defense Gen. Onno Eichelsheim stated that Türkiye's role within NATO will increase as the US reduces some military capabilities. He urged European allies to take greater responsibility, implement the 3.5% defense spending target, and invest in resilient societies and defense industries. Eichelsheim praised Türkiye's defense industry and highlighted opportunities for bilateral cooperation.
tr30Turkey criticizes Western countries for granting citizenship and asylum to FETÖ fugitives
Turkey has expressed frustration over Western nations, including the US, Germany, Canada, and the UK, rejecting extradition requests for members of the Gülenist Terror Group (FETÖ). The article details cases where fugitives were granted citizenship or asylum, citing legal loopholes, dual criminality issues, and lack of extradition treaties. Turkey has submitted 2,950 extradition requests to 119 countries, with the most to Germany (777), the US (428), and Belgium (142). Specific cases include Suat Yıldırım in Germany, Tuncay Delibaşı in Canada, Abdullah Aymaz in Germany/US, Turgut Karabulut in the US, Ayhan Erik in Spain, and Suat Yiğit in the US.
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Turkey criticizes Western countries for granting citizenship and asylum to FETÖ fugitives
Turkey has expressed frustration over Western nations, including the US, Germany, Canada, and the UK, rejecting extradition requests for members of the Gülenist Terror Group (FETÖ). The article details cases where fugitives were granted citizenship or asylum, citing legal loopholes, dual criminality issues, and lack of extradition treaties. Turkey has submitted 2,950 extradition requests to 119 countries, with the most to Germany (777), the US (428), and Belgium (142). Specific cases include Suat Yıldırım in Germany, Tuncay Delibaşı in Canada, Abdullah Aymaz in Germany/US, Turgut Karabulut in the US, Ayhan Erik in Spain, and Suat Yiğit in the US.
Turkey has expressed frustration over Western nations, including the US, Germany, Canada, and the UK, rejecting extradition requests for members of the Gülenist Terror Group (FETÖ). The article details cases where fugitives were granted citizenship or asylum, citing legal loopholes, dual criminality issues, and lack of extradition treaties. Turkey has submitted 2,950 extradition requests to 119 countries, with the most to Germany (777), the US (428), and Belgium (142). Specific cases include Suat Yıldırım in Germany, Tuncay Delibaşı in Canada, Abdullah Aymaz in Germany/US, Turgut Karabulut in the US, Ayhan Erik in Spain, and Suat Yiğit in the US.
tr28Progress reported on reopening historic Halki Seminary in Istanbul
The Halki Seminary on Heybeliada, closed since 1971, has been undergoing renovation with a September deadline set by Patriarch Bartholomew I, but an operating license remains pending. President Erdogan previously linked reopening to reciprocal measures from Greece. Now, Bishop Aravissu Kassianos Nikolar reports positive negotiations with Turkish authorities, including President Erdoğan, after US President Trump raised the issue. A proposal for a postgraduate theological institute under Turkish university oversight is under discussion, and Erdoğan has urged swift finalization. The bishop described progress as "100% positive" and noted that the latest talks in Ankara included Erdoğan and Patriarch Bartholomew, with renovation work ongoing.
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Progress reported on reopening historic Halki Seminary in Istanbul
The Halki Seminary on Heybeliada, closed since 1971, has been undergoing renovation with a September deadline set by Patriarch Bartholomew I, but an operating license remains pending. President Erdogan previously linked reopening to reciprocal measures from Greece. Now, Bishop Aravissu Kassianos Nikolar reports positive negotiations with Turkish authorities, including President Erdoğan, after US President Trump raised the issue. A proposal for a postgraduate theological institute under Turkish university oversight is under discussion, and Erdoğan has urged swift finalization. The bishop described progress as "100% positive" and noted that the latest talks in Ankara included Erdoğan and Patriarch Bartholomew, with renovation work ongoing.
The Halki Seminary on Heybeliada, closed since 1971, has been undergoing renovation with a September deadline set by Patriarch Bartholomew I, but an operating license remains pending. President Erdogan previously linked reopening to reciprocal measures from Greece. Now, Bishop Aravissu Kassianos Nikolar reports positive negotiations with Turkish authorities, including President Erdoğan, after US President Trump raised the issue. A proposal for a postgraduate theological institute under Turkish university oversight is under discussion, and Erdoğan has urged swift finalization. The bishop described progress as "100% positive" and noted that the latest talks in Ankara included Erdoğan and Patriarch Bartholomew, with renovation work ongoing.