Emerging Europe Economics

Emerging Europe Economics Update
13 October, 2011

Turkey’s Medium-Term Programme offers little comfort

While Turkey’s Medium-Term Programme (MTP) for 2012-14, unveiled today, contains some movement towards fiscal tightening, we think that it is a case of too little too late. The MTP is based on overly-optimistic assumptions and will not do enough to reduce Turkey’s current account deficit which, at around 10% of GDP, is looking increasingly unsustainable....

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