OECD Economic Surveys: Turkey 2016 Summary
Executive Summary: The OECD Economic Survey for Turkey highlights robust growth despite challenging circumstances. To sustain and make this growth more inclusive, the report emphasizes the need for deeper participation in global value chains and the removal of structural bottlenecks. Key recommendations focus on enhancing the resilience of the economy, restructuring the tradable sector through improved business environments, and fostering green growth.
Assessment and Recommendations:
- Recent Economic Developments: The report assesses Turkey's recent economic performance and outlines the short-term macroeconomic outlook.
- Economic Rebalancing: It advocates for strategies to make growth sustainable and more inclusive by focusing on sectors like manufacturing and leveraging global value chains.
- Resilience Strengthening: Recommendations include measures to improve economic stability against external shocks.
- Sector Restructuring: Emphasizes the importance of upgrading the business environment to support the tradable sector, particularly manufacturing.
- Green Growth: Encourages policies that promote environmental sustainability alongside economic growth.
Key Themes:
- Balancing Growth: Focuses on rebalancing growth through enhanced participation in global value chains and addressing structural issues.
- Resilience and Stability: Aims to strengthen the economy's ability to withstand external economic challenges.
- Business Environment Improvement: Seeks to upgrade the business environment, particularly in the manufacturing sector, to foster innovation and productivity.
- Green Transition: Advocates for green growth initiatives that align with environmental sustainability goals.
Annex Highlights:
- Progress in Structural Reforms: Tracks the progress made in key areas identified for reform.
- Thematic Chapters: In-depth analyses on rebalancing growth through manufacturing sector strengthening and reaping the benefits of global value chains.
- Methodologies and Data: Provides detailed methodologies used for analysis and statistical data supporting the survey findings.
Conclusion:
The OECD Economic Survey for Turkey underscores the country's potential for sustainable and inclusive growth by advocating strategic reforms in critical economic sectors. Through targeted policy actions, Turkey can enhance its economic resilience, improve the business environment, and accelerate its transition towards green growth, thereby ensuring long-term prosperity.
