Turkey: Selected Issues

December 5, 2014

Preview Citation

Format: Chicago

Turkey: Selected Issues, (USA: International Monetary Fund, 2014) accessed December 26, 2024

Summary

This Selected Issues paper examines the external imbalance situation in Turkey. Turkey’s current account deficit is expected to remain elevated at about 5.5 to 6 percent of GDP through 2019. Reducing the deficit to a more sustainable level about 2.5 to 3 percent of GDP should be a key policy priority. Applying the Global Integrated Monetary and Fiscal Model, the paper quantifies the impact of four different approaches in reducing the current account deficit. The analysis shows that policies that directly increase private or public savings can reduce the external imbalance without reducing private investment and that they have relatively modest negative growth implications.

Subject: Banking, Financial sector policy and analysis, Foreign exchange, Inflation, Inflation targeting, Macroprudential policy instruments, Monetary policy, Prices, Reserve requirements

Keywords: CBRT monetary policy framework, Country risk risk premium, CPI, CR, GDP, Global, Inflation, Inflation expectation, Inflation rate, Inflation targeting, Interest rate, ISCR, Macroprudential policy instruments, Monetary policy tightening, Reserve requirements, Saving-investment balance

Publication Details

Pages:

38
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/330
Stock No:

1TUREA2014002
ISBN:

9781498398077
ISSN:

1934-7685

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