## Turkey: Recent Economic Developments

_IMF Staff Country Reports, June 8, 1995_

## Source details

**Canonical URL:** [Turkey: Recent Economic Developments](https://www.imf.org/en/publications/cr/issues/2016/12/30/turkey-recent-economic-developments-521)

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- [Markdown version](/en/publications/cr/issues/2016/12/30/turkey-recent-economic-developments-521/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/30/turkey-recent-economic-developments-521/index.json)
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## Bibliographic details
- Published: June 8, 1995
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451837971.002

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### Key developments (1992–95)
- Economic activity expanded sharply in 1993.
- Expansion in 1993 was sustained by buoyant domestic demand underpinned by expansionary fiscal and monetary policies.
- The expansion was accompanied by a large deterioration in the current account position.
- The unsustainability of the 1993 policy stance resulted in an exchange and financial market crisis in the first months of 1994.
- In April 1994, the authorities announced a comprehensive stabilization program that included:
  - substantial fiscal retrenchment,
  - monetary tightening, and
  - a structural reform agenda intended to strengthen the adjustment effort over the medium term.

### Subject coverage and keywords
- Subject areas: Banking, Commercial banks, Economic sectors, External debt, Financial institutions, Foreign exchange, Inflation, Prices, Public sector.
- Keywords: banking system, Commercial banks, CR, current account, Eastern Europe, economic activity, exchange rate, financial market, Inflation, ISCR, Middle East, North Africa, private sector, Public sector, Turkish lira, U.S. dollar.

### Publication metadata (selected)
- Pages: 136
- Volume: 1995
- Issue: 043
- Series: Country Report No. 1995/043
- DOI: https://doi.org/10.5089/9781451837971.002
- ISBN: 9781451837971
- ISSN: 1934-7685

*Turkey: Recent Economic Developments, IMF Staff Country Reports, June 8, 1995*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/turkey-recent-economic-developments-521_