With 2023 the centennial of the establishment of the Republic of Turkey, elections in 2011 saw the government unveil a long-term vision for the country’s development that stretches ahead for more than a decade. The ruling Justice and Development Party (AKP), able to capitalise on an unprecedented period of political stability after winning its third...
The year 2012 is scheduled to be a banner one for privatisation in Turkey, if all goes according to plan, with moves ahead on gas and electricity grids, bridges, highways and ports. Yet these plans are also likely to be subject to the temperature of the global economy, as those charged with organising the sell-offs try to launch when investor...
There was good news for Turkey in 2012 in the pages of the World Bank/International Finance Corporation’s “Doing Business 2012” report. In 2011 the country rose two places in the global rankings, to 71st out of 183 economies. This placed it ahead of the Eastern Europe and Central Asia average of 77th and well ahead of some regional competitors, such...
One major success story in recent years has been the rapid rise in bilateral trade between Turkey and the countries of the Gulf Cooperation Council (GCC). Indeed, Turkey enjoys trade surpluses with all the GCC states except Saudi Arabia and Qatar, with energy imports accounting for the deficits there. With the UAE, Kuwait, Bahrain and Oman, Turkish...
Undergoing a major transformation over the past decade, the Turkish economy is now the world’s 15th largest and the sixth largest in Europe, according to 2011 World Bank figures for GDP at purchasing power parity (PPP). The country has an estimated population of 74.7m, giving it the second-largest internal market in Europe, after Germany. Bordering...
Over the past decade, Turkey has experienced a number of important transitions that have led to demographic, economic and cultural transformation. These changes have made contemporary Turkey a regional focal point that many Turks regard as an extension of its influence in Ottoman times. Following the onset of a devastating banking crisis and...
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