EN Main navigation CENTER PUBLICATIONS PODCASTS VIDEO CONTACT Home Publications VIEWPOINT 2021-02-23 The tightrope walker march Turkey's economic policy in the face of the crisis Mateusz Chudziak The entire study in PDF format 875.28 KB The entire study in EPUB format 1.61 MB As of August 2018, the Turkish economy has been on the brink of viability. The threat of a collapse, including debt problems, a banking crisis and - as a consequence - an economic crash, has been postponed only temporarily in the last two years, without removing the causes of the existing state of affairs. A possible collapse threatens the survival of the current government, and potentially the entire project that it has been implementing since 2002, which resulted in a thorough transformation of the social and political life of the state. For the Turkish elite, economic policy is part of the defense and building of national sovereignty. What investors treat as tendencies reducing the country's credibility and deterring capital, Ankara recognizes as pursuing its own path of development, in which the choice is not allowed to be interfered by any external forces. As a result, the tension related to the continued dependence of the economy on foreign (mainly Western) capital is growing, with the simultaneous manifestation of independence tough, combined with the anti-Western rhetoric of the rulers. This results in permanent problems with the authorities' credibility in the eyes of investors. This situation will not improve in the near future. MORE ON THIS No breakthrough. Biden-Erdoğan talks (Lord) the Turkish Caucasus. The Baku-Ankara alliance and its regional importance Turkish intervention in Syria - a new crisis in Turkey's relations with the West The EU towards Turkey - a carrot instead of a stick Escalation of Turkish-American tensions against the background of the PKK MOST READ week month German coalition agreement - state modernization plan There is strength in unity. Hungarian opposition with a chance of victory in 2022 Great Britain's military support for Ukraine Russia's Ukrainian dilemma: Moscow's strategy towards Kiev Russian military activity around Ukraine - an attempt to reconstruct the narrative TO BE HEARD ON SPOTIFY TO WATCH ON YOUTUBE OSW NEWSLETTER subscribe Privacy Policy | Accessibility declaration Center for Eastern Studies Karp brand ul. Koszykowa 6a, 00-564 Warsaw, phone: (+48) 22 525 80 00, fax: (+48) 22 525 80 40 e-mail: info@osw.waw.pl © OSW | Center for Eastern Studies Karp brand The website uses cookies to provide better access to the content offered, as well as for statistical purposes. By clicking on any link on this page, you consent to the use and storage of cookies. I agree