Executive Summary - Turkey's rapid growth and development over the last decade is one of the success stories of the global economy. Today, Turkey is an upper middle income country with a population of 75 million and a gross domestic product of US$735 billion, making it the 16th largest economy in the world. It is the Government's stated intention that Turkey becomes one of the world's 10 largest economies by 2023, the 100th anniversary of the founding of the Turkish Republic. Turkey is an EU accession candidate country, a member of the Organization for Economic Cooperation and Development (OECD) and the G20, and an increasingly important donor of bilateral Official Development Assistance (ODA). Turkey is one of the largest middle income partners of the World Bank Group (WBG).
Turkey faces significant economic risks going forward, including spillover from the European debt crisis. With low domestic savings, Turkey's economic growth relies on capital inflows to finance investments and growth. The country's large current account deficit and the composition of its financing remain critical concerns. More | |
 
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