RE-OPENING IN THE MAKING

Turkey has officially launched re-opening of the economy as of Monday, June 1st. The move to ease the restrictions will gradually be implemented in order to help economy recover from the deepest crisis ever the country experienced.

The inter-city travel restrictions in 15 cities will completely be ended, whilst restaurants and cafés will be able to open their doors by this week, according to President Recep Tayyip Erdogan, who spoke on Thursday evening after the cabinet meeting held via video conferencing.

Moreover, beaches, parks, gardens, driving courses, ies, tea gardens, swimming pools and hot springs, archaeological sites, libraries, youth centers and camps, and museums in Turkey will reopen on the same day. Restrictions on individual sports have ended, while restrictions on sea tourism, fishing, and transportation were also lifted within certain conditions.

Civil servants on administrative leave or working remotely will return to their workplaces by this week. The curfew will continue for people over age 65 with the exception of business owners, who would be able to g oto their workplaces. Additionally, ban on children under age 18 will continue, with free days on Wednesdays and Fridays between 2 p.m. to 8 p.m. However daycare centers and kindergartens will reopen in June, President said, without elaborating on details of the calendar

Borsa Istanbul witnessed a significant foreign investor exit since the beginning of the year which accelerated during the pandemic. It was relatively was part of a global trend, where international investors were shying away from emerging markets. Foreign investors offloaded a hefty amount of their investments in Turkish shares that caused a serious blood loss in Borsa Istanbul indices. On the other hand, exodus of foreign capital from equity markets was partly compensated by the influx of domestic investors. The number of local investors that saw their returns melt down due to rate cuts, have transferred their liquid assets in Borsa Istanbul, seeing a greater opportunity of higher gains.

It is not the first time of such an influx but industry sources believe that small investors would continue to stay in Borsa Istanbul as long as the low interest rate policy is sustained.

You can find the details of the trend in our cover pages.