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Significance
Erdogan spoke with pride of imposing additional customs duties to protect domestic industries, cheapening credit and launching a national car project. Economic policies are becoming less liberal, and more protectionist and interventionist.
Impacts
Financial investors will increasingly regard investments in Turkey as speculative.
Foreign direct investment will still be welcome, but investors may need to consider additional risks.
Turkey is very unlikely to turn to the IMF and implement a liberal programme in a crisis, an option already rejected by Erdogan.
Keywords:
Turkey,
ME/NAF,
EU,
IMF-World Bank,
economy,
industry,
politics,
social,
banking,
debt,
government,
growth,
policy,
arms,
automobile,
balance of payments,
capital flows,
consumer,
energy,
exchange rate,
fiscal,
foreign investment,
foreign trade,
health,
monetary,
private sector,
privatisation,
public sector,
reform,
regulation,
tobacco
© Oxford Analytica 2020. All rights reserved. This content contains general information about geopolitical, macroeconomic and social developments or (where stated) other matters. It does not contain advice or recommendations that may be relied on. Where links to external websites are provided, this does not indicate that Oxford Analytica or Emerald agree with, endorse or have checked for accuracy the contents of said sites.
2020
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