Turkey: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey

April 22, 2016

Preview Citation

Format: Chicago

Turkey: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey, (USA: International Monetary Fund, 2016) accessed November 21, 2024

Summary

This paper discusses key issues related to Turkey’s economy. Economic growth of Turkey continues to show resilience despite several shocks. Growth remains based on domestic demand, in turn, supported by accommodative monetary and fiscal policies. With the economy projected to grow at 3.8 percent in 2015, output and unemployment gaps are practically closed. But, growth is still below both the historical average and the authorities’ long-term target. Potential growth is also slowing. The employment rate is low, especially among women. To tackle these issues, the government has announced ambitious program of reforms aiming to increase potential growth and reduce external imbalances.

Subject: Banking, External debt, Fiscal policy, Fiscal stance, Foreign exchange, Labor, Minimum wages, National accounts

Keywords: Accommodative monetary policy, CR, Development priority, Financing, Fiscal stance, Global, IBRD financing, Inflation, ISCR, Minimum wages, Monetary policy, Turkey, Turkey trust fund portfolio, Unprocessed food price inflation

Publication Details

Pages:

87
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/104
Stock No:

1TUREA2016001
ISBN:

9781484337776
ISSN:

1934-7685

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