Turkey is one of the largest middle-income partners of the World Bank Group (WBG), and the 18th largest economy in the world. In less than a decade, per capita income in the country has nearly tripled and now exceeds $10,000.
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December 10, 2014 — Turkey has seen tremendous growth in recent decades and the country now stands on the verge of high-income status. A new World Bank report highlights this transition and looks at the remaining challenges ahead.
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September 3, 2014 — A new Customs Union evaluation finds that both Turkey and the EU enjoy higher trade under the Customs Union than they would under a free trade agreement. However, the evaluation also finds that many challenges still remain.Read More »
August 27, 2014 — A Country Economic Memorandum for Turkey shows that the country has increased its export competitiveness thanks to a shift toward medium-tech and more sophisticated products, accompanied by higher export quality.Read More »
The report highlights the impacts of the customs union and argues that it has brought greater benefits than a simple free trade agreement would have, but more can still be done to improve trade between the parties.
This report highlights the central role played by prudent fiscal policy over the last decade in supporting initial macroeconomic adjustment and creating the space for rapid economic progress and improved social outcomes.