Turkey - Country Economic Memorandum : Volume 2. Sustaining High Growth, Selected Issues

World Bank

Washington, DC

关键词: AGRICULTURAL OUTPUT;    AGRICULTURE;    ANNUAL GROWTH;    ANNUAL IMPORTS;    ASSETS;   

RP-ID  :  39194

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This Country Economic Memorandum (CEM),prepared in collaboration with the Turkish authorities,summarizes recent accomplishments in achieving high growthand analyzes remaining public policy challenges and optionsavailable to the authorities to meet these challenges. Thecountry seeks to double the nominal per capita income of itspopulation by 2013. It wants this rapid growth to beinclusive of all segments of society, regions, and economicsectors-especially through improved labor market performanceleading to more and better jobs in the economy. At the sametime, the authorities want to improve the quality of publicservices which they see as an important complement toeconomic growth in improving quality of life. They alsobelieve that the potentially negative environmentalconsequences of the period of rapid growth ahead need to bemanaged so that the positive welfare gains from higher percapita income levels do not become eroded by environmentalnuisances. Turkey has succeeded in restoring macroeconomicstability and rapid growth, it has been recovering fromcrisis in 2001 and grew at 7.5 percent per year on averageduring 2002-2006. In addition, certain dimensions of publicsector governance are instrumental in improving quality oflife and promoting competitiveness in Turkey including, forexample, food safety and environmental protection. Furtherstrengthening of the legal framework and institutionsfighting corruption could improve the investment climate,the efficiency of the public sector, and popular support tofurther reforms, and continuous macroeconomic stability is anecessary (but not sufficient) condition for sustainablegrowth. Strong fiscal discipline and monetary policy havereduced chronic inflation to below 10 percent in 2005.Public debt has also been reduced and its sustainability hasimproved. Accordingly, the resilience of the Turkish economyto shocks has improved as demonstrated by the rapid recoveryfrom turmoil in international markets in the summer of 2006and, more recently, in the summer-autumn of 2007.