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Albayrak continued to exude optimism, arguing the worst of the crisis was over, Deliveli said he also saw pressure on the lira re-emerging, with investor confidence sagging.
The OECD has also forecast that even under a single-hit coronavirus scenario, fixed investment in Turkey will post a double-digit decline for a second consecutive year, export volume will shrink by 8% and the unemployment rate will rise to almost 16%, despite falling in March due to a large fall in labour force participation.
Timur Han Gur, professor of economics at Hacettepe University, was cited as saying that economic growth for Q2 would be negative, at around -5% to -6%.
“Already a very problematic labour market is suffering from the pandemic, especially workers in the retail, tourism and construction sectors,” he was also reported as saying. “The insufficient state-economic stimulus packages and assistance, and unclear policies of the government have created a chaotic situation for citizens urgently in need.”
2.5​ ​How the Emir of Qatar’s mum won the Istanbul land lottery and other tales of wonder
A 44,000-square metre plot of land located alongside the controversial Canal Istanbul mega infrastructure project and owned by Qatari Emir Tamim bin Hamad al-Thani’s mother, Sheikha Moza bint Nasser, has been rezoned into a tourism and trade area, ​according​ to Turkish daily Sozcu.
In December, the newspaper reported that the sheikh’s mother had bought the land in question after in November 2018 establishing a company in Turkey.
The value of the land has jumped to Turkish lira (TRY) 20-25mn ($2.9mn-$3.6mn) from the TRY12-13mn it was valued at when Nasser bought it, according to the publication.
The worth of the land is now set to rise by at least fivefold following the release of the zoning plan that transforms the potential for its use, the daily also noted.
Do we hear a gasp or two among readers? Well, you can’t expect us to tell a “dog bites man” story here, no matter the tingling sensation, but let’s just mention that Turkish President Recep Tayyip Erdogan’s son-in-law and finance minister, Berat Albayrak, surely cannot be behind Sheikha Mozah’s successful real estate investment. Not a chance. A most impudent notion.
A 13,000-sqm plot of land owned by Albayrak alongside the Canal Istanbul project, as well as a 3,000-sqm plot in the vicinity owned by Albayrak’s father, Sadik Albayrak, have also been rezoned for tourism and trade use, according to another Turkish daily, Cumhuriyet.
Albayrak’s father reportedly bought his land back in 2003 while Berat Albayrak purchased his in 2012 after father-in-law Erdogan announced Canal Istanbul as his “crazy project” (“crazy” as in “crazy wow” rather than “nuts” though environmentalists, among others, contend the project is actually “crazy sad”).
In February, Albayrak blocked, via court rulings, access to an online news report on his acquisition of land by the project. However, a new wave of news reports have broken following the release of the latest master plan for the locality in question.
Also taking column inches is the sorry fate of main opposition Republican People’s Party (CHP) leader Kemal Kilicdaroglu who, according to a Turkish
12​ TURKEY Country Report​ August 2020 ​ ​www.intellinews.com