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.

map Turkey
Main Economic Indicators201220132014201520162017
Population, 1000 persons.751767614877700...
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 GDP36.236.134.8...
Current account in % of GDP-6.1-7.9-5.8-5.5-5.2-5.2
FDI inflow, EUR mn1030493519435...
Gross external debt in % of GDP41.945.655.1...

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

Serkan Çiçek
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