wiiw Current Analyses and Forecasts

Turkey: Recovery from credit brakes


Michael Landesmann

in: Double-dip Recession over, yet no Boom in Sight
wiiw Current Analyses and Forecasts No. 11, March 2013 , pp. 107-110

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Turkey experienced a strong slowdown of growth to 2.9% in 2012 compared to 9.0% in 2010 and 8.5% in 2011. This was mostly due to policy reactions (particularly monetary policy) to an overheat- ing economy characterized by very fast credit growth and sharply negative current accounts devel- opments. Monetary policy has now eased somewhat, inflation has come down, and we expect Tur- key to resume growth at 3.8% in 2013, 4.5% in 2014 and 5.0% in 2015.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: SEE, Turkey