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In the IMF statement, the pioneering audit findings under the Article 4 consultations on Turkey’s economy have been shared.
The statement, in Turkey, as in all other countries of the Kovid-19 outbreak was transferred to health and economic purposes. In the statement, which noted that the policy intervention focused on monetary and credit expansion gave a strong boost to economic growth, it was also stated that it made the economy more sensitive to internal and external risks by increasing pre-existing vulnerabilities. The statement recorded:
“The recent policy rejection of rapid money and credit growth is welcomed. If this transformation continues and if additional support focused on the temporary outbreak is combined with a credible plan for medium-term fiscal consolidation, as well as financial sector and structural reforms, buffers can be rebuilt more quickly. Structural reforms. “should focus on mitigating the risks posed by the long-term negative effects of the pandemic and include specific measures to support the most vulnerable, encourage flexibility of the labor market and facilitate debt reduction. ”
“POLICY INTERVENTION ACHIEVES A GREAT RECOVERY OF THE ECONOMY”
The statement, which recalls that Turkey enters 2020 with pre-existing vulnerabilities, was emphasized on the policy interventions applied against the first outbreak that led to a strong recovery of the economy. In the IMF statement, it was stated that since the end of 2020, the tightening of monetary policy, the relaxation of temporary regulatory measures and the marked slowdown in state-owned bank loans have helped limit pressure on the Turkish lira and rebuild. trust.
In a statement that also assessed Turkey’s economic outlook, “the economy is expected to continue positive growth in 2021.” the expression was used. In a statement, Turkey’s economy is expected to grow nearly 6 percent in 2021.
The statement said that rebalancing the policies applied over time will form the basis for longer-lasting medium-term growth, and it was stated that fiscal structural reforms will support consolidation and reduce fiscal risks.
