From an economic standpoint, how does the UK view the importance of its relationship with Turkey?
From an economic standpoint, how does the UK view the importance of its relationship with Turkey?
The founding father of the Turkish Republic, Mustafa Kemal Atatürk, said, “Economic development forms the backbone of the ideal of Turkey, which is free, independent, ever stronger and more prosperous”. Turkey has made great strides in the realisation of this ideal, thanks to a solid track record of macroeconomic management and structural reforms. It is thus fitting that the...
Since the establishment of the republic in 1923, Turkey has been in a state of constant flux. Due to domestic and global developments, the country was marred by political and economic instability for decades. The economy was hindered by political setbacks, growth was underperforming and the country struggled with skyrocketing, chronic inflation.
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Economic performance has been strong in the last decade and Saudi Arabia has been one of the best-performing G20 economies in recent years. Real GDP growth averaged 7% per year in 2010-12, second only to China. Following strong growth of 8.6% in 2011, spurred by higher oil output and large fiscal spending packages, the economy grew at a slower,...
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