Newsletters & Press

January 2023

The year 2023 promises to have a busy agenda for Turkey. The country celebrates this year its centenary of its Republic proclaimed in 1923 under the aegis of Mustafa Kemal later called Atatürk who will become its first president and who will remain so until his death in 1938.

A major event for Turkey which coincides with the presidential and parliamentary elections in May/June 2023.

Economically, the start of 2023 was marked by a slowdown in consumer price inflation for the second consecutive month, to 64.3% year-on-year from 84.4% in November 2022. Prices have continued to rise over the past two months, but less sharply than a year earlier. The government's objective remains to reduce the inflation rate to 22.3% in 2023 and 8.8% in 2024. Against the backdrop of particularly high price increases during the year 2022, the Turkish minimum wage was raised for the third time in a year on January 1, by 55%, to 8,500 TL net (≈ 455 USD).

In addition to economic and monetary issues, Turkey has challenged itself to achieve carbon neutrality by 2053 as part of its alignment with EU environmental policy. This policy should be addressed from several angles, including the acceleration of the development of alternative energies, including hydrogen technologies for which a roadmap has been established by the Ministry of Energy and Natural Resources.

The energy transition will also affect industries including transport, at the heart of the planned changes. Transport is subject of significant investment and Turkey is placing a particular emphasis on the development of railways, which has absorbed half of the 2023 budget allocated to the Ministry of Transport & Communications (61 billion TL out of the 121.7 billion TL granted).

Finally, the year 2023 has a special meaning for the Advantis team as it marks the 20th anniversary of the founding of our company. "These are 20 years marked by your successes in the Turkish market which have contributed to the growth and sustainability of our company" emphasizes Ilker ONUR, CEO of Advantis.

The whole team is proud to celebrate this important date together with the centenary of the founding of the Republic of Turkey.

On this occasion, we have opted to revamp starting with our monthly Newsletter and hope that this new version will be easier and more pleasant for you to read.

Read the newsletter (in French) in PDF format