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Thanks to the continuing rise in foreign demand and with the help of major government transfers, the Turkish economy is likely to have grown by 3% in 2014. In 2015, we expect GDP to expand by 3.3% owing to the ongoing depreciation of the lira, a rise in transfer expenditures and a slight easing in monetary policy. Growth should even improve in 2016 and 2017 on account of probable cuts in the policy rate, continued government-induced consumption and investment, as well as improvements in net exports.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||75176||76148||77700||.||.||.|
|GDP, real change in %||2.1||4.2||2.9||3.4||3.5||3.5|
|GDP per capita (EUR at PPP)||13700||14100||14400||.||.||.|
|Gross industrial production, real change in %||2.5||3.0||3.6||.||.||.|
|Unemployment rate - LFS, in %, average||9.2||9.7||9.9||10.5||10.0||9.5|
|Average gross monthly wages, EUR||.||.||.||.||.||.|
|Consumer prices, % p.a.||9.0||7.5||8.9||7.1||6.3||5.7|
|Fiscal balance in % of GDP||-1.0||-0.7||-0.8||.||.||.|
|Public debt in % of GDP||36.2||36.1||34.8||.||.||.|
|Current account in % of GDP||-6.1||-7.9||-5.8||-5.5||-5.2||-5.2|
|FDI inflow, EUR mn||10304||9351||9435||.||.||.|
|Gross external debt in % of GDP||41.9||45.6||55.1||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
TURKEY: On a government-supported steady-state growth path
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 99-101 Details and Buy
Monthly Report No. 9/2014
Serkan Çiçek, Vladimir Gligorov, Michael Landesmann, Roman Römisch and Hermine Vidovic
wiiw Monthly Report No. 9, September 2014
39 pages including 2 Tables, 27 Figures and 3 Maps