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

Author

Listed:
  • Cristian Moisoiu

    (Institute for World Economy, Romanian Academy)

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.

Suggested Citation

  • Cristian Moisoiu, 2023. "Türkiye, Between Economic Vulnerabilities and Political Ambitions as a Regional Power," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 11(2), pages 77-82, December.
    • Handle: RePEc:ntu:ntugeo:vol11-iss2-77-82
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    File URL: http://www.globeco.ro/wp-content/uploads/vol/split/vol_11_no_2/geo_2023_vol11_no2_art_011.pdf
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    More about this item

    Keywords

    Economic outlook; Türkiye; inflation rate; natural disasters; economic nationalism;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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