The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This report focuses on Observance of Standards and Codes on Fiscal Transparency for Turkey. Turkey has continued to make progress toward meeting the requirements of the fiscal transparency code, in particular through a substantial overhaul of the legal system. The adoption of the Public Financial Management and Control Law (PFMCL) in December 2003 was designed to provide the necessary framework for further reforms. In spite of the progress made, further effort is required before Turkey will fully meet the requirements of the Code.