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Country data
- Population:
- 75.6 million
- Area:
- 783,600 sq km
- Capital:
- Ankara
- Currency:
- New Turkish Lira
Key developments and challenges
Economic growth is decelerating. Growth rates have come down from 8.5 per cent in 2011 to 2.9 per cent in the second quarter of 2012, driven by substantially declining domestic demand, a key driver of growth, and spill-overs from the eurozone.
Structural reforms in 2011-12 were targeted on helping to boost domestic savings through supporting the private pension system. A combination of lower taxes for longer-term bank deposits and state contributions up to US$ 125 per month to the individual’s private pension account were introduced in 2012.
Efforts to tackle unemployment and improve labour market effficiency are under way. The government has started to implement a number of measures to reform existing labour market regulations, including reduction in severance payments and more flexible working hours.
More developments and challenges
Turkey
Key facts about the EBRD's work in Turkey
|
No. of projects |
76 |
|---|---|
|
Net business volume |
€2.6 billion |
|
Total project value |
€8.1 billion |
|
Cumulative disbursements |
€2.0 billion |
|
Portfolio in private sector |
96% |
Sectors we focus on in Turkey
- Liberalisation and privatisation
- Business environment and competition
- Power and energy
- Municipal sector infrastructure
- Telecommunications
- Financial sector
Our strategy in Turkey
The Bank aims to increase availability of risk capital and long-term funding to the micro, small and medium sized (MSMEs) enterprises.
Investments elsewhere in the enterprise sector will focus on agribusiness: priority will be on strengthening linkages and standards along the food chain and stimulating a food supply that meets European quality standards.
The Bank also aims to promote favourable market conditions for the development of energy efficiency and renewable energy through its investments. And it will support the government’s privatisation programme in the enterprise and financial institutions sectors.
NEWS
CONTACTS
Istanbul RO
Büyükdere Caddesi, 185
Kanyon Ofis Binası, Kat: 2
Levent
34394 Istanbul
Turkey
Tel: +90 212 386 1100
Fax: +90 212 386 1199
Ankara RO
Eskişehir Yolu,
Armada İş Merkezi, No:6 Kat:4
Söğütözü,
06520 Ankara
Turkey
Tel: +90 312 205 5960
Fax: +90 312 205 5970
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