Economic Updates: Turkey

Turkey: Healthy progress

Eastern Europe | 23 Feb 2012
Turkey: Healthy progress

Major changes are under way in the Turkish health care system in both the private and public sectors. While higher rates of hospital accreditation and a focus on attracting foreign customers is increasing the quality of care in the private sector, more Turkish citizens and permanent residents will be enrolled in the state system, following the institution of a universal health insurance policy.

Turkey: Automobile market drives on

Eastern Europe | 15 Feb 2012
Turkey: Automobile market drives on

These are exciting times for Turkish car manufacturers, who are riding a wave of growth thanks to a weak lira, increasing investment in research and development (R&D) and foreign firms’ boosting of local production. In a sign of the local industry’s growing maturity, one domestic investment firm is now the frontrunner in the takeover of an ailing European car manufacturer.

Turkey: Preparing for the long term

Eastern Europe | 30 Jan 2012
Turkey: Preparing for the long term

In late December Turkish parliamentarians approved a budget that would expand public spending, even as their European neighbours begin fiscal austerity programmes. Major increases in public employment and education spending are meant to help soften an expected economic downturn while investing in future growth.

Turkey: Year in Review 2011

Eastern Europe | 16 Jan 2012
Turkey: Year in Review 2011

In a sign that the country has performed well in the face of debt crisis affecting its neighbours in the EU, the Turkish government announced in January that the economy expanded 8% in 2011, with the construction, manufacturing, and retail sectors leading the way. Fears of a hard landing still remain, given Turkey’s chronic current account deficit and its recent struggles with inflation, but a burgeoning domestic economy, combined with political stability and a healthy fiscal position, have enabled the country to post decent macroeconomic data.

Turkey: Building opportunities

Eastern Europe | 11 Jan 2012
Turkey: Building opportunities

The Van earthquake in late October, which stunned Turkey and dominated press headlines for weeks, has also brought renewed efforts to deal with the country’s decrepit and dangerous urban housing stock.

Turkey: Attractive destination

Eastern Europe | 12 Dec 2011
Turkey: Attractive destination

Already the world’s 7th most-popular tourist destination, Turkey has continued to grow in 2011, as economic expansion and political stability raise its profile in the region. The country saw a 10.76% increase in visitors between January to September 2011 compared to the same nine-month period in 2010.

Turkey: Energy-sector manoeuvres

Eastern Europe | 24 Nov 2011
Turkey: Energy-sector manoeuvres

At the high-profile Black Sea Energy and Economy Forum, Turkey’s top leadership expressed strong rhetorical support for the Nabucco gas pipeline project, while reminding Europe that the country plays the key role in Nabucco’s success and implying that more serious consideration needs to be given to its EU membership bid.