Posted by meb at May 27th, 2007

The Economic Outlook report published by OECD twice a year, where it evaluates the performances of its members, argued that unemployment in Turkey will decrease, at least partially, this year and next year.
The report stated that consumer price index will increase by 9.6 percent this year, and by 7.2 percent new year. Thus, inflation will continue to fall. Unemployment rate is expected to be 9.7 percent this year and 9.6 percent in 2008. Current account balance as a percentage of Gross Domestic Product is foreseen as -7.5 percent this year, and -7.5 percent in 2008.
The section of the report related to Turkey said:
“Unless there is a shock in the future, growth rate will be around 6 percent in 2007 and 2008. However, the economy is still not fully elastic against domestic and international shocks. Disinflation will continue to take place from where it has remained but will be slower than what has been expected officially.
Turkey has made substantial improvements in her economic bases and ahs overcome certain political tensions faced in April. After the double elections (Presidency and general) in 2007, further structural and institutional reforms are required, not only for adjustment to shocks, but also to enhance competition and better external balances. Decreasing the informal economy among the business world is crucial for the continuity of sustainable rapid growth.

source: The New Anatolian

Related posts:

  1. OECD-FAO report: Turkey’s growth will surpass India’s by 2017
  2. Turkey to grow by 4.6 percent this year, IMF report says
  3. OECD foresees growth in Turkey below 2 pct for 2009
  4. Fitch revises Turkey’s outlook to stable on political risks
  5. Moody’s says Turkey’s outlook stable