Turkey: Staff Report for the 2013 Article IV Consultation

December 20, 2013

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Turkey: Staff Report for the 2013 Article IV Consultation, (USA: International Monetary Fund, 2013) accessed November 22, 2024

Summary

This 2013 Article IV Consultation highlights that the Turkish economy achieved a welcome reduction of imbalances in 2012. In 2013, growth has accelerated significantly on the back of a monetary and fiscal policy stimulus. The economy is projected to expand by 3.8 percent this year, with private consumption and public investment as the main contributors. With this rotation back to domestic demand-led growth, the current account deficit is widening again, while inflation remains above target. The authorities are on track to meet their 2013 budget targets, despite rapid spending growth. Executive Directors have expressed satisfaction that the Turkish financial system is generally sound.

Subject: Balance of payments, Banking, Current account deficits, Exchange rates, Fiscal policy, Fiscal stance, Foreign exchange

Keywords: CR, Current account deficits, Deficit target, Deficit-to-GDP ratio, Economy, Europe, Exchange rates, Financial market volatility, Fiscal policy stimulus, Fiscal stance, Global, ISCR, Medium-Term Program target, Middle East, Nonfuel current account balance, North Africa, Rate, Turkey, Turkish lira

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/363
Stock No:

1TUREA2013001
ISBN:

9781484303627
ISSN:

1934-7685

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