Primary navigation:

QFINANCE Quick Links
QFINANCE Topics
QFINANCE Reference

Home > Country Profiles > Turkey

Country Profiles

Financial Outlook

The Turkish economy picked up in 2013 after a couple of difficult years following an overheating of the credit market in 2010. Monetary and fiscal policy stimulus helped GDP growth to reach an estimated 3.8% year-on-year improvement. However, according to the IMF, much of this growth was led by domestic demand and fueled once again by rising levels of credit, pushing Turkey’s current account deficit higher and keeping inflation high. The IMF wants to see Turkey tighten macroeconomic policies through 2014 and has urged the government to press ahead with implementing structural reforms. The government’s budget for 2014 forecasts GDP growth of 4%. The budget deficit was the lowest since 2006, being just 1.2% of GDP, and will in effect be a surplus before interest payments of 0.9% of GDP in 2013 and 1% in 2014. The public sector debt to GDP ratio, which was over 40% in 2012, is set to drop to 33% in 2014, having fallen to 35% by the end of 2013.

Back to top

Further reading on Turkey

Websites:

Back to top

Share this page

  • Facebook
  • Twitter
  • LinkedIn
  • Bookmark and Share

Editor's Choice