{
  "title": "Turkey: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey",
  "publication": "IMF Staff Country Reports, April 22, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/turkey-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43872",
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  "summary": "This paper discusses key issues related to Turkey’s economy. Economic growth of Turkey continues to show resilience despite several shocks. Growth remains based on domestic demand, in turn, supported by accommodative monetary and fiscal policies. With the economy projected to grow at 3.",
  "publishDate": "2016-04-22",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Macroeconomic performance and outlook",
      "content": "- Economic growth of Turkey \"continues to show resilience despite several shocks.\"\n- Growth remains based on domestic demand, supported by accommodative monetary and fiscal policies.\n- The economy is projected to grow at \"3.8 percent in 2015.\"\n- Output and unemployment gaps are \"practically closed.\"\n- Growth is nevertheless still below both the historical average and the authorities’ long-term target.\n- Potential growth is \"also slowing.\""
    },
    {
      "heading": "Labor market and social indicators",
      "content": "- The employment rate is low, \"especially among women.\"\n- Low employment is highlighted as a key constraint on raising potential growth."
    },
    {
      "heading": "Policy diagnosis and reform agenda",
      "content": "- The government has announced an \"ambitious program of reforms\" with objectives to:\n  - increase potential growth; and\n  - reduce external imbalances.\n- Fiscal and monetary stance described as \"accommodative\" supporting domestic-demand-led growth."
    },
    {
      "heading": "Key subjects and keywords (as listed)",
      "content": "- Subjects: Banking, External debt, Fiscal policy, Fiscal stance, Foreign exchange, Labor, Minimum wages, National accounts\n- Keywords: accommodative monetary policy, CR, development priority, financing, Fiscal stance, Global, IBRD financing, inflation, ISCR, Minimum wages, monetary policy, Turkey, Turkey trust fund portfolio, unprocessed food price inflation\n\n---\n\n Content in this bundle\n\n- cr16104\n  - cr16104 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16104 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/turkey-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43872"
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    "[Markdown version](/en/publications/cr/issues/2016/12/31/turkey-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43872/index.md)",
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    "Published: April 22, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484337776.002",
    "Economic growth of Turkey \"continues to show resilience despite several shocks.\"",
    "Growth remains based on domestic demand, supported by accommodative monetary and fiscal policies.",
    "The economy is projected to grow at \"3.8 percent in 2015.\"",
    "Output and unemployment gaps are \"practically closed.\"",
    "Growth is nevertheless still below both the historical average and the authorities’ long-term target.",
    "Potential growth is \"also slowing.\"",
    "The employment rate is low, \"especially among women.\"",
    "Low employment is highlighted as a key constraint on raising potential growth.",
    "The government has announced an \"ambitious program of reforms\" with objectives to:",
    "Fiscal and monetary stance described as \"accommodative\" supporting domestic-demand-led growth.",
    "Subjects: Banking, External debt, Fiscal policy, Fiscal stance, Foreign exchange, Labor, Minimum wages, National accounts",
    "Keywords: accommodative monetary policy, CR, development priority, financing, Fiscal stance, Global, IBRD financing, inflation, ISCR, Minimum wages, monetary policy, Turkey, Turkey trust fund portfolio, unprocessed food price inflation",
    "**_cr16104**"
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