IMF Staff Country Reports

Turkey: Selected Issue

Publication Date:

April 22, 2016

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper discusses key issues of Turkey’s economy including private savings in Turkey, increase in the minimum wage for 2016, and nonfinancial corporate sector debt in Turkey. Over the last decade and half, Turkey successfully stabilized its macro economy. In the aftermath of the 1999–2001 economic crises, Turkey pursued a highly successful policy of macroeconomic stabilization. At the same time, however, private sector saving rate decreased significantly, leading to a current account deficit. The minimum wage increased by 30 percent in January 2016, affecting about 8 million workers directly. Nonfinancial corporate sector debt has increased substantially in recent years, on the back of increased foreign currency leverage.

Series:

Country Report No. 2016/105

Subject:

Foreign exchange Labor Minimum wages National accounts Potential output Private savings Production Production growth