Turkey is on a new path of lower growth, at around 3-4%, due to a novel policy mix that aims to restrict the current account deficit. In 2014 the growth rate was 2.9%, thanks to the continuing rise in foreign demand and with the help of government transfers. In 2015, we expect GDP to expand by 2.8% owing to the ongoing depreciation of the lira, government-led infrastructure projects and rising social transfers. Growth should even improve thereafter on account of likely cuts in the policy rate.

map Turkey
Main Economic Indicators201220132014201520162017
Population, 1000 persons.751767614877182...
GDP, real change in %
GDP per capita (EUR at PPP)137001410014400...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average9.29.79.910.510.09.5
Average gross monthly wages, EUR......
Consumer prices, % p.a.
Fiscal balance in % of GDP-1.0-0.7-0.8...
Public debt in % of GDP36.236.133.5...
Current account in % of GDP-6.1-7.9-5.8-5.5-5.2-5.2
FDI inflow, EUR mn1030493519438...
Gross external debt in % of GDP42.045.655.1...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


Monthly Report No. 7-8/2015

Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2015
25 pages including 1 Table and 2 Figures



TURKEY: On a government-supported steady-state growth path

Serkan Çiçek
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 99-101
Details and Buy