Finance Ministry Official Appointed Head of Turkish Statistics Institute

Quick summary

Turkey has appointed Mohammad Arbaci from the Treasury Ministry as head of the Turkish Statistical Institute (TURKSTAT), a move that comes amid sharp opposition criticism over the credibility of inflation data issued by the institute. The appointment is part of a "wave of appointments" affecting a number of vital economic institutions.

Why it matters

Turkey's official inflation files issued by the institute directly affect your investment and savings decisions and your expectations for prices of goods and services. The appointment of an official from the Finance Ministry may increase doubts about the independence of the economic data you rely on in your personal and family financial planning.

Key takeaways

• ›Turkey's Treasury and Finance Ministry has provided the new head of TÜİK (TURKSTAT), the country's official statistics body.
• ›The appointment follows what Turkish media called an "appointment storm" sweeping the country's economic bureaucracy.
• ›TÜİK has faced sustained opposition challenges to the credibility of its inflation data, fuelling debate over the institute's independence.