Turkey: Sixth Review and Inflation Consultation Under the Stand-By Arrangement and Request for Waiver of Nonobservance and Applicability of Performance Criteria: Staff Report; Staff Supplement; and Press Release on the Executive Board Discussion
November 16, 2007
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The staff report for the Sixth Review and Inflation Consultation Under the Stand-By Arrangement on Turkey explains the macroeconomic framework and monetary and exchange rate policies. High interest rates, slowing credit growth, and election-related uncertainty were expected to weigh on private domestic demand and keep growth near its estimated long-term potential of 5 percent. The central bank renewed its commitment to building international reserves for prudential reasons. There was broad agreement on the need to ease labor regulations and taxes as fiscal resources permit.
Subject: Banking, Economic sectors, Expenditure, External debt, Health care spending, Monetary base, Money, Public debt, Public sector
Keywords: bringing inflation, CR, debt ratio, Global, Health care spending, inflation outlook, inflation projection, ISCR, market participant, Medium-run inflation expectation, Monetary base, monetary policy, Public sector, social security institutions
Pages:
75
Volume:
2007
DOI:
Issue:
363
Series:
Country Report No. 2007/363
Stock No:
1TUREA2007004
ISBN:
9781451838220
ISSN:
1934-7685
