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Housing loans increased by 2.4% to TRY211bn whereas the car loans volume was virtually unchanged.
FX deposits parked at local banks rose for a second week in a row. The BDDK reported that FX savings increased by $482mn on a weekly basis to $196bn while precious metals deposit accounts jumped by $2.1bn to $21bn. Data also showed that people were selling euros to buy dollars.
2.11 Business and consumer confidence surveys
Turkey's economic confidence index in April fell by 44.1% m/m to 51.3 points, data from official statistical body TUIK showed on April 29.
Turkey's consumer confidence index rose to 59.5 points in May, climbing from April's 54.9. The April figure was the lowest recorded since the data was first published in 2004.
2.12 Politics - shorts
Thanks in large part to Turkey’s increased military backing, Libya’s Tripoli-based Government of National Accord (GNA) has made substantial progress in pushing back the rebel Libyan National Army (LNA) forces of General Khalifa Haftar—but analysts warn the United Arab Emirates (UAE) is still heavily invested in supporting the latter and the battle is not yet won.
Armenian Prime Minister Nikol Pashinian demanded an apology from Turkey as Armenia, amid coronavirus (COVID-19) restrictions, marked the 105th anniversary of the World War I-era massacre of Armenians in the Ottoman Empire.
"The Armenian genocide perpetrated by the Ottoman Empire was a crime not only against our ethnic identity but also against human civilisation," Pashinian said on April 24.
20 TURKEY Country Report June 2020 www.intellinews.com
