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Turkey's economy rebounds from post-coup weakness | Business | DW.COM | 31.03.2017
Keywords: Turkey Economy,
GDP expanded at 3.5% in the fourth quarter of 2016, according to the Turkey Statistics Office. This follows a contraction by 1.8% in the third quarter of 2016. For the full year the GDP growth is 2.9 percent, a decline from the 6.1% in 2015. In 2015 Turkey gained from lower oil prices. This was offset in 2016 by the politics in the region- the increased instability in the country following a crackdown on the opposition and media, internal conflict in the Kurdish region which appeared for a time to be leading to peaceful settlement. As a result tourism revenues declined by 30% and this was offset by increased government spending. The uncertainty before the referendum also leads to decline in foreign investment and investment by domestic firms.
The global economy in 2015-2016- slowing growth in China, Brazil, Russia and Turkey, as growth picks up in the U.S. and India, and Europe emerges from the eurozone debt crisis
11/29/2015
High debt to GDP ratios in China, Brazil and Turkey lead to slowing growth. India is the exception in emerging markets as foreign investment increases and GDP growth is above 7%, with a boost from halving of oil prices. Europe sees the need for more quantitative easing, and the U.S. makes a slow recovery. Russia may see an improvement after a large devaluation of the ruble. Argentina's prospects are seen as improving with a change in government. Canada sees a change from the drift in the last years of the Harper government and the hollowing out of the industrial sector, with the election of Justin Trudeau. Overall the situation in 2015-2016 is a marked improvement compared to ten years earlier in 2005, as debt issues are tackled seriously in Europe and the U.S. and governance in the private sector improves.
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Turkey's economy in 2015 as seen from Eskisehir between Istanbul and Ankara.
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Keith Bradsher of the NYT provides glimpses of Turkey's slowing economy from a town set on the high speed rail line between Istanbul and Ankara. The shooting down of a Russian plane means the loss of farm exports to Russia. The wars in Syria and Iraq has reduced the exports to these countries. Cheap Chinese exports have also replaced Turkish exports in some countries. Wages for construction workers have dropped with Syrian refugees taking up jobs at lower wages. Construction continues to grow in Ankara and Istanbul as people from other parts of the Middle East invest in apartments in Turkey as a safe haven.
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Tensions With Russia Add to a Chill in Turkey’s Economy
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E.U. Woos Turkey for Refugee Help, Ignoring Rights Crackdown
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Turkish military expert: Putin uses Turkey to achieve his own ends | News | DW.COM | 09.03.2017
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Fragile Five economies overly dependent on foreign investment- Brazil, India, Indonesia, Turkey and South Africa
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Brazil Tries to Borrow Its Way to Prosperity
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Alarm Over Istanbul’s Building Boom
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Turkey's economy in 2016-2017 following political uncertainty of the referendum for expanding the powers of the president
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Grouped Articles
Turkey's economy rebounds from post-coup weakness | Business | DW.COM | 31.03.2017
DW.COM 03/31/2017
Turkish economy contracts amid instability | Business | DW.COM | 12.12.2016
DW.COM 12/12/2016
Turkish Economy Heading Toward Crisis under Erdogan - SPIEGEL ONLINE
SPIEGEL ONLINE 03/31/2017
Observers Question Turkish Referendum Result as U.S. Sends Mixed Signals
WSJ 04/18/2017
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