Turkey in February 2026: the most important developments in economy
In February 2026 Turkey's economic news was led by its ties with Saudi Arabia and Egypt. During a forum in Riyadh, a $2 billion Saudi investment in Turkish solar and wind projects was finalised, and President Recep Tayyip Erdogan thanked Crown Prince Mohammed bin Salman. Egypt and Turkey announced that bilateral trade had risen to $6.8 billion and said they aimed to build a stronger economic bloc.
Energy was the second main theme. State oil company TPAO agreed with the US company Chevron on joint oil and gas exploration on February 5, and on February 12 it signed a new cooperation agreement with BP. Turkey also began ultra-deepwater drilling in the Horn of Africa. On February 19 Turkey called a hydrocarbon exploration deal between Greece and Chevron offshore Crete null and void, saying the area is part of its continental shelf.
Relations with Europe and monetary policy followed. On February 6 the European Union and Turkey agreed to work toward modernising their customs union, and Turkey's foreign minister planned to press for visa liberalisation in talks with the EU. On February 12 the central bank updated its inflation forecast range and said it would keep a tight monetary policy. Turkish stocks were reported to have made a strong start to 2026.
Infrastructure, transport and business deals rounded out the month. Turkey secured $6.75 billion in financing on February 24 for an intercontinental railway project linking the Aegean and Black Sea regions. Stadler signed a contract to deliver 35 freight locomotives to Turkish State Railways. Turkish Airlines will start direct flights to Urumqi in China and said it would not cancel flights to Iran. Saudi-owned Scopely agreed a deal worth about one billion dollars to buy Turkish game developer Alictus.
by WorldBrief & Maksim Micheliov | AI-generated summary
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