Turkey: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey

February 3, 2017

Summary

This 2017 Article IV Consultation highlights that growth in Turkey has slowed following a strong performance in 2015. Investment is weak amid heightened uncertainty and a sharp deceleration of credit growth. Inflation has moderated but is still well above target. The current account deficit remains sizeable, as the decline in tourism offsets savings from low energy prices. Progress on structural reforms has been slow. Over the medium term, growth is projected to firm at about 3.5 percent. Inflation is expected to stay above target and the current account deficit to remain sizeable.

Subject: External debt, Financial Sector Assessment Program, Foreign exchange, Income, National accounts, Public debt

Keywords: coup attempt, CR, data revision, development challenge, Europe, GDP, Global, government, Income, ISCR, loan supply constraint, monetary policy, monetary policy transmission, nominal GDP, staff appraisal, staff assessment

Pages:
80
Volume:
2017
DOI:
https://doi.org/10.5089/9781475574258.002
Issue:
032
Series:
Country Report No. 2017/032
Stock No:
1TUREA2017001
ISBN:
9781475574258
ISSN:
1934-7685

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