The Turkish Economic Outlook Amid Global Turmoil

First, among other factors, the loose monetary policies to ease financial conditions during the coronavirus pandemic and then the global uncertainties resulting from Russia’s invasion of Ukraine followed by the sanctions against Russia have led to inflationary pressures on a worldwide scale. Many central banks from both emerging and advanced economies have responded by pivoting toward tighter monetary policy and higher interest rates. The Central Bank of the Republic of Turkey, on the contrary, has opted for loose monetary policy and lowered interest rates leading to skyrocketing of inflation to over 80 percent. What does Ankara aim to achieve with this economic policy and what are the short-, medium-, and long-term implications for the Turkish economy, politics, and foreign policy?

 

Join us for this conversation on the state of the Türkiye's economy and the challenges ahead.



If you have any questions, please contact Annika Vollmer at [email protected].

This online event is part of a series of events and analyses organized as part of the GMF-TOBB Fellowship on Turkey, Europe, and Global Issues launched by GMF in partnership with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) in 2017.