Turkey’s Reverse Economy: How Will It End?

This report aims to establish and analyze Turkish economic growth, inflation development and issues in labor market for the past two decades. Although, Turkish economy has been seen as an emerging market economy, today it is one of the G20 countries, but things have gone of the track recently. In 2003 President Erdogan took control of Turkey, later in 2005 new Turkish Lira was introduced to stabilize currency, and country saw consecutive GDP growth over a coming decade, however, since 2018 political tensions in Syria, inflation due to massive external debt and weak currency, has taken a toll on Turkish people. The reason behind such a fluster might be unreasonable policy making by President Erdogan, but it actually dates back as far as 1970s. In this report, we also attempt to propose favorable policies moving forward and support our claims with empirical data from IMF and Trading Economics.…