Türkiye, Between Economic Vulnerabilities and Political Ambitions as a Regional Power

Cristian Moisoiu
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Cristian Moisoiu: Institute for World Economy, Romanian Academy

Global Economic Observer, 2023, vol. 11, issue 2, 77-82

Abstract: The Turkish economy continued its strong post-pandemic recovery trend in 2022, with a growth rate of 5.6%, which exceeded authorities' expectations, with private consumption contributing significantly to economic growth, amid wage increases and the support provided for households with regard to energy costs. The earthquakes in Turkey earlier this year had a devastating impact on the population and on the economy in the southern country. The reconstruction effort will cover the losses incurred, so GDP will continue to grow over the next two years, but at a slower pace than in recent years. Exports will moderate, while imports will accelerate. Under the post-election effect, the new administration led by President Erdogan seems inclined to adopt radically different policies from those of recent years, returning to conventional methods of targeting inflation and restoring macroeconomic balance.

Keywords: Economic outlook; Türkiye; inflation rate; natural disasters; economic nationalism (search for similar items in EconPapers)
JEL-codes: E00 E60 F52 O53 (search for similar items in EconPapers)
Date: 2023-12
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