## Turkey: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey

_IMF Staff Country Reports, April 22, 2016_

## Source details

**Canonical URL:** [Turkey: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey](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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## Bibliographic details
- Published: April 22, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484337776.002

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### Macroeconomic performance and outlook
- 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."

### Labor market and social indicators
- The employment rate is low, "especially among women."
- Low employment is highlighted as a key constraint on raising potential growth.

### Policy diagnosis and reform agenda
- The government has announced an "ambitious program of reforms" with objectives to:
  - increase potential growth; and
  - reduce external imbalances.
- Fiscal and monetary stance described as "accommodative" supporting domestic-demand-led growth.

### Key subjects and keywords (as listed)
- 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

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_Source: 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_