Turkish economy has adopted the open economy model with the structural changes in the last 10 years. We can say that remarkable growth has been achieved in recent years.
Turkish economy has a point to be emphasized. The government has decreased the role of the state in economic activities. Also, the role of the market mechanism is improved in resource allocation.
The economic data that foreign investors pay attention and focus on substantially affect the progress of the general development picture in the country.
Long-Term Growth Rate of Turkey Is Above 4%!
Turkish economy in the last 10 years has achieved the long-term growth according to the economic data. Long-term growth rates are above 4%.
Turkey’s GDP has experienced significant developments in the last 20 years. Sectoral developments along with the structural changes have been experienced.
The agricultural sector has lost its visibility with the decreasing share of the products in the market. The annual production increased by 2% with the developments in industry and services.
Besides, according to the last 10-year data, the unemployment rate of Turkey is low compared with other OECD countries.
The average unemployment rate in Turkey is about 7-8%. This rate is about 12% in other OECD countries. When all these data and value changes are taken into consideration, Turkey has globally improved. Turkish economic data is constantly improving.
This improvement support economic and political policies in Turkey by creating a spiral. Turkey has reached a remarkable position in the world thanks to the economic developments.
Export Change in the Last 10 Years of Turkish Economy!
Turkish economy in the last 10 years has been undergone radical changes. Turkish economy adapts to market conditions with the developments in the financial institutions.
Foreign trade has experienced significant developments In parallel with all these developments in the Turkish economy 2020.
In the last 10 years, the global economy and trade have rapidly developed and there have been major export changes.
As the share of agricultural products in exports has decreased, the share of industrial products increased by 87%.
It is seen that the current deficit has a fluctuating structure in the balance of payments along with the developments in export values. The prevalent situation for stable economies is the fluctuations in the current deficit.
These determinations are made for economies having small deficits or current deficits.
Stable Macroeconomic Policies!
Turkish economy in the last 10 years reflects the steady progress of macroeconomic policies. In line with data, Turkey has progressed in compliance with the objectives of the Customs Union policy towards membership of the European Union.
Before examining the economic data of Turkey, maintaining a stable macroeconomic policy is of great importance for a strong economy.
When it comes to a strong and sustainable economy, macroeconomic policies must achieve sustainable growth with low inflation. Privatization is important to maintain steady progress in line with certain decisions for public deficits.
Privatization is necessary to increase global effectiveness. Privatization is essential in economic policies in terms of controlled development of economic conditions and combating public deficits.
For a stable economy;
• The financial discipline which is a must in the public sector
• Permanent “deficit” reduction that must be sustained in public deficits
• Activating the public sector with privatization
Turkish economy 2020 has been progressing in accordance with these economic policies and gaining sustainability.
Stabilization Policies With Structural Reforms!
Turkish economy 2020, policies and notes have been examined. We can see that the stability policies carried out in all stable economies are remarkable. Turkey has successfully and globally managed the needs for structural reforms in terms of economy.
Global economic crises, health crises and many other crises have been managed by Turkey thanks to the economic policies. Turkey has created a balanced table, especially in the last 10 years.
Independence For The Stability of Financial Markets!
Turkish economy in the last 10 years has undergone major changes. There are privatizations for the stability of financial markets, structural reforms and the independence protection of the Central Bank.
In Turkey, there are tax reforms that enable efficient tax collection in order to broaden the tax base together with structural reforms implemented to reduce the public deficit.
This positively affects the Turkish economy. Thus, it is seen that this whole spiral proceeds in a stable line with the decrease in public deficits.
The financial system has been strengthened by diversifying financial instruments in addition to the privatizations of public banks.
Strong Infrastructure Investments in Turkey!
Turkish economy in the last 10 years has significantly improved. Economic policies for the public weal in addition to budget increase for strong infrastructure investments.
The current and estimated progress in the Turkish economy will gain sustainability with the public investments turning to infrastructure investments.
Together with the development of infrastructure investments, fund transfer will take place to a greater extent in order to develop important services for public needs such as health and education.
The Turkish Economy in the Last 10 Years: Effective Public Finance
Turkish economy in the last 10 years has drawn a sustainable picture. If we take a look at the economic notes and policies, we can easily say that there is a positive picture.
Turkey has managed balanced monetary policies along with the effective management of public finance structural reforms. Apart from the 2020 global health crisis, and American elections, Turkey has effectively managed the monetary policies.
Turkey has controlled its economic policies and monetary discipline by keeping public deficits under control. The Turkish economy has been improving in the last 10 years.
Balanced Approach and Permanent Reputation of the Turkish Economy!
Turkish economy in the last 10 years has managed effective monetary policies for the demands of public needs and strengthening the infrastructure dynamics.
In Turkey, Central Bank has taken considerable steps and managed successful policies in the last 10 years.
The monetary disciplines and practices that the CBRT has put into practice in the last 5 years with a sustainable management approach are remarkable. It is an indicator that shows the positive progress of the Turkish economy.
Turkish economy in the last 10 years has taken firm and right steps. The economy policies of the Central Bank of the Republic of Turkey prove that, as well.
The Central Bank of the Republic of Turkey is at the Heart of Economic Stabilization!
The Central Bank of the Republic of Turkey which is reliable and reputable is the most vital and effective institution to understand the economic data.
The Central Bank of the Republic of Turkey proceeds to maintain economic policies that stably perpetuate the practice in recent years. The CBRT which is the only authority in coining money maintains the sectoral structuring in a modern and effective manner.
When it comes to the intervention of the Central Bank to the markets in Turkey, Central Bank has encouraged the development of constructive and supportive cooperation with a precision approach.
As we examine the economic note of the Turkish economy in the last 10 years, Central Bank has maintained its active role and prestige steadily.
It is seen that the Turkish banking system and the ongoing activities are developed within the scope of the principles thanks to the solid steps taken for the future.
Integration Provided by the Macroeconomic Discipline of Turkey in the Last 10 Years!
Economic stability is assured with the global integration provided by the macroeconomic discipline of Turkey in the last 10 years.
Monetary discipline and recognition of the opportunities offered through globalization in the efficient financial markets have paved the way for stable development.
There are benefits based on the increase in the interdependence of economies with globalization. According to the mutual benefits, the Turkish economy in the last 10 years improves steadily and safely.
The high demand for investing in Turkey is followed by economic development. Turkey has strengthened its economic policies with globalization by taking firm steps.
Not only for national benefits but also to stabilize the balances of the global economy. Foreign investors shape their investment according to these economic data in Turkey.
