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Turkey

In: Business and Management

Submitted By melfeky
Words 1946
Pages 8
For the past 10 years, Turkey has grown its real GDP at about 6% annually. This came after a huge debt crisis in 2001-02, wherein Turkey had to borrow $16 billion more from the IMF and comport with its difficult conditionality. Today, Turkey is a middle-income country in search of an effective development strategy. It tends to run high inflation with a devalued currency, despite massive capital inflows and a huge current account deficit. At home, the government has carefully managed between Islamicization, democracy and secularism. And abroad, it deals with a difficult neighborhood – Syria, Iran, Iraq, Israel (not to mention Russia, Europe and the USA). Prime Minister Erdogan is trying to rewrite the Constitution before 2014, when the next election occurs.
1. What have been the strengths and weaknesses of Turkey’s growth model?
2. What is causing the current account deficit? What can Turkey do about it?
3. What do you make of Islamicization in Turkey? Has it gone too far? Will it?
4. What do you make of the government’s foreign policy – “zero problems with its neighbors”?
Country Background:
• Land Mass; 97% in Asia 3% in Europe
• 8400 Km Coast Line. (Mediterranean & Black Sea) Rivers: Tigris & Euphrates
• Population 75 mm growing at 1.2% annually. 99% Moslem of which 30% Kurdish roots
• 26% of population under 15 Years.
• Economic activity dominated by Services 64%, then Industry 27 % then Agriculture 9%
• Informal economy (unregistered) is a substantial part of Economic output.
Founding of the Turkish Republic:
• Ottoman Empire rule from 13th-20th century
• Ottoman administration was a Central Bureaucracy under absolute authority of the Sultan spreading from Austia to North Africa through the Middle East, and supervised by local rulers reporting to the Sultan.
• Islam was the Imperial religion while other religions existed and tolerated

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