In the Turkish banking industry recorded growth of bad loans. The volume of overdue loans in the total loan portfolio amounted to 3,18 percent, notes the national regulator of the industry. On it informs Agency Bloomberg.
The increase in the volume of problem loans exacerbated and other problems that worsen the situation of the financial sector of Turkey: the depreciation of the Russian sanctions, the decline in the inflow of tourists and terrorist attacks. “The situation is likely to be to go to the downside and intensification [of the crisis]. I do not think that the situation is out of control, but the impact of the Russian sanctions, the blow to the tourism industry, growth of cost of funds and falling currency will inflict heavy damage to the corporate sector”, — quotes Agency the opinion of the analyst Commerzbank of Apostolos Bantis.
February 25 edition of Al-Monitor reported that the exports of Turkey according to the results of 2016 will be reduced by $ 7 billion to 137 billion — because of the crisis in the Persian Gulf caused by low oil prices, and the deterioration of relations with Russia.
November 28, 2015 Russia has imposed sanctions of Turkey after the Turkish air force has shot down a Russian su-24 bomber, involved in the operation against Islamists in Syria. The corresponding decree of President Vladimir Putin imposed a visa regime from 1 January 2016 and has banned Charter flights between Russia and Turkey. The paper also imposed a ban or restriction on the importation into Russia of certain types of Turkish goods. In addition, Russian tour operators ordered to refrain from the sale of tours to the Republic.