Turkey: Selected Issue

International Monetary Fund

No 2016/105, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses key issues of Turkey’s economy including private savings in Turkey, increase in the minimum wage for 2016, and nonfinancial corporate sector debt in Turkey. Over the last decade and half, Turkey successfully stabilized its macro economy. In the aftermath of the 1999–2001 economic crises, Turkey pursued a highly successful policy of macroeconomic stabilization. At the same time, however, private sector saving rate decreased significantly, leading to a current account deficit. The minimum wage increased by 30 percent in January 2016, affecting about 8 million workers directly. Nonfinancial corporate sector debt has increased substantially in recent years, on the back of increased foreign currency leverage.

Keywords: ISCR; CR; minimum wage; NFC FX; TFP growth; total factor productivity; saving rate; minimum wage increase; wage distribution; minimum wage policy; gross wage; NFC FX loan; trend labor force participation rate; Minimum wages; Private savings; Potential output; Production growth; Global; Central Asia (search for similar items in EconPapers)
Pages: 68
Date: 2016-04-22
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