Turkey: Selected Issue

April 22, 2016

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Format: Chicago

Turkey: Selected Issue, (USA: International Monetary Fund, 2016) accessed December 24, 2024

Summary

This paper discusses key issues of Turkey’s economy including private savings in Turkey, increase in the minimum wage for 2016, and nonfinancial corporate sector debt in Turkey. Over the last decade and half, Turkey successfully stabilized its macro economy. In the aftermath of the 1999–2001 economic crises, Turkey pursued a highly successful policy of macroeconomic stabilization. At the same time, however, private sector saving rate decreased significantly, leading to a current account deficit. The minimum wage increased by 30 percent in January 2016, affecting about 8 million workers directly. Nonfinancial corporate sector debt has increased substantially in recent years, on the back of increased foreign currency leverage.

Subject: Foreign exchange, Labor, Minimum wages, National accounts, Potential output, Private savings, Production, Production growth

Keywords: Central Asia, CR, Global, Gross wage, ISCR, Minimum wage, Minimum wage increase, Minimum wage policy, Minimum wages, NFC FX, NFC FX loan, Potential output, Private savings, Production growth, Saving rate, TFP growth, Total factor productivity, Trend labor force participation rate, Wage distribution

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/105
Stock No:

1TUREA2016002
ISBN:

9781484338209
ISSN:

1934-7685

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