[51411] The Turkish economy under pressure: Central Bank Governor and Minister of Energy respond to global uncertainty

Turkey's economic and energy policy in the shadow of global uncertainty

During the day of May 5, 2026, senior officials in the Turkish economy presented a complex picture of the country in the face of global shocks. The Governor of the Central Bank of Turkey, Fatih Karahan, emphasized that despite the impacts of the war on disinflation processes, the bank remains committed to its goals. According to Borsa Haber 🔔, Karahan stated that the bank "will continue to use all monetary policy tools in accordance with our fundamental objective - price stability" (according to the Borsa Haber announcement).

In a further report by Haber Gündem, it was clarified that Karahan admitted to Parliament that inflation remains at high levels and that the impacts of the war are felt primarily in energy and transportation prices. The bank, which adheres to a conservative official line, expects the global economy to face "a significant slowdown in 2026" and is facing a "significant negative supply shock."

At the same time, the Minister of Energy and Natural Resources, Alparslan Bayraktar, addressed the country's energy challenges. In an interview for the program "Net Bakış" which was covered by TurkishNews, Bayraktar noted that "the world is facing crises" and that while there is currently no energy shortage in Turkey, global uncertainty poses a significant risk.

Additional financial sources, such as Borsa ve Kripto, emphasize the complexity of the local energy market: while investments in renewable energy have reached historic highs, the need for "supply security" is bringing coal-fired power plants back to the center of the strategic stage. The reports indicate that the Turkish government is trying to balance inflation targets with maintaining functional continuity in the energy sector.