FINANCIALS OF ARÇELİK COMPANY
FINANCIALS OF ARÇELİK COMPANY Turkish Economy Slow growth in Europe and a deteriorating geopolitical environment in its neighbourhood have negatively impacted exports, investment, and growth. The influx of 3 million Syrian refugees in 2015–16 created new social, economic, and political demands, particularly in urban centre where most refugees are living.Political developments in 2015 and 2016 have presented further challenges. Elections in June and November 2015, a cabinet reshuffle in May 2016, an attempted coup in July, and the consequent replacement of public officials have all affected the Government’s reform momentum. At the same time, a series of terrorist attacks has weakened tourist arrivals and foreign investment. Private investments have been delayed, leading to slower economic growth. In November 2015, Turkish Military shot down a Russian fighter jet with the claim that it was trespassing Turkish airspace. This had resulted in a crisis with Russian Federation th...