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....
Chief Emerging Markets Economist
Senior Emerging Markets Economist
Emerging Markets Economist