The Turkish Economic Outlook in 2021
- Kadri Tastan, GMF-TOBB Senior Fellow, The German Marshall Fund of the United States
- Alvaro Ortiz, Head of Big Data Research, BBVA
- Fatih Özatay, Program Advisor, TEPAV
- Naz Masraff, Director, Eurasia Group
- Jacob Kirkegaard, Senior Fellow, The German Marshall Fund of the United States
According to the IMF Staff Concluding Statement of the 2021 Article IV Mission, the policy response of Turkey, which focused on monetary and credit expansion, led to a strong rebound in growth after the initial shock of the Coronavirus 19 Pandemic. However, this happened at the expense of exacerbating vulnerabilities of the Turkish economy and depletion of foreign currency reserves of the Central Bank. In late 2021 Turkey undertook a policy pivot towards tighter monetary policy and slower credit growth as a result of which the Turkish Lira stabilized. Now, the immediate challenges Turkey is facing are high inflation, the need for external financing and unemployment.
Join us for this conversation on the state of the Turkish economy and the opportunities as well as the challenges ahead.
If you have any questions, please contact Annika Vollmer at AVollmer@gmfus.org.
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.