Overheating; The Turkish Economy  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 399 no. 8732 (May 2011), page 50.
Topik: Geographic Profiles; Economic Conditions; Economic Policy; Gross Domestic Product--GDP; Statistical Data; Problems; Inflation; Elections

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.66 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

After a sharp contraction in 2009, Turkey's economy recorded the third-fastest rate of growth in the G20 last year. Not a single Turkish bank failed in the financial crisis. And inflation has been held down, partly thanks to a strong lira. Ahmet Akarli, an economist at Goldman Sachs in London, has long been bullish about Turkey's economy, but he says that this year the cyclical picture is looking ugly, imbalances are accumulating and financial vulnerabilities are growing. He points to the decision to keep fiscal and monetary stimulus going for too long. The twin concerns are inflation and the current-account deficit. Goldman Sachs reckons inflation could be 7.5% by the end of the year. It may not prove so easy to cool down such a hot economy. The central bank last year cut interest rates and raised reserve requirements for foreign and local banks in an unorthodox attempt to deter rising capital inflows. This did not seem to work, and the bank is now starting to raise interest rates instead.

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