The New Economy Program presented by Turkey’s finance minister on Thursday included more realistic economic forecasts, but it failed to build on the central bank’s interest rate hike last week and indicate a broader improvement in domestic policymaking. Meanwhile, the Russian draft 2019 budget approved this week provided mixed messages about the fiscal stance, although our best estimates suggest that this will be neutral. Perhaps more importantly, it looks like the authorities are trying to shift further towards autarky in the face of US sanctions.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services