IMF Staff Country Reports

Journal

Publisher:: International Monetary Fund
ISSN:: 1934-7685

IMF Country Reports cover 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.

Get eTOC Alert

Download

Turkey : Staff Report for the 2014 Article IV Consultation

Explore other countries and regions »

Get Code

Buy

Journal Issue

Volume/Issue:: 2014/329
Series:: IMF Staff Country Reports
Author(s):: International Monetary Fund. European Dept.
Publisher:: INTERNATIONAL MONETARY FUND
Published Date:: December 2014
DOI:: http://dx.doi.org/10.5089/9781484304501.002
ISBN:: 9781484304501
ISSN:: 1934-7685
Page:: 79

This 2014 Article IV Consultation highlights that Turkey's economy has grown on average by 6 percent annually since 2010, but this has come at the expense of a large external deficit, making the economy sensitive to changes in external financing conditions. Macroeconomic policies have been too accommodative, inflation is high and well above the authorities' target, real policy interest rates remain negative, and the exchange rate continues to be stronger than suggested by fundamentals. The main risk for Turkey remains a capital flows reversal, associated with monetary policy normalization in advance economies or changes in the country risk premium. Other risks center on slower European growth, geopolitical issues, and the strength of the policy framework.

Show Summary Details

Turkey - 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Turkey

IMF Staff Country Reports

Table of contents Table of contents

Turkey : Staff Report for the 2014 Article IV Consultation

Table of contents