Since 2015, the Turkish economy has had to cope with two general elections in rapid succession, the 2016 attempted coup in July and its fraught aftermath, and multiple terrorist threats. Yet, according to the latest data, the Turkish economy achieved a 2.9 per cent real GDP growth in 2016. According to the government, prospects in 2017 are positive: the recovery seen at the end of 2016 from the third quarter contraction is expected to continue with stronger EU growth supporting exports. Despite the damaging anti-EU political rhetoric from some Turkish ministers, the economic team has pledged to deepen economic relations with the renegotiation of the Turkey–EU Customs Union.… Seguir leyendo »
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While the Turkish economy has defied previous dire warnings and shown resilience to external shocks, the coming year could be one of its most difficult yet. Growth will be more difficult to generate than in the past decade, requiring structural reforms and institutional strengthening. These are promised in the new programme from the ruling Justice and Development Party (AKP), but their implementation remains uncertain given the weak record of past AKP governments and the increased domestic and regional political challenges.Not as fragile as some think
Since the global financial crisis, Turkey has had a series of external shocks, including the eurozone crisis, the strong performance of the US dollar and the waves of international capital flowing into and out of emerging markets.… Seguir leyendo »