IMF: "Turkey is on track to become a tiger economy"

“Turkey is shifting to a new view of both its place in the world and how it wants to manage its economy and its politics more generally,” adds Deppler in the report. “That is probably the most significant change, to hope that Turkey’s performance in the future is going to be significantly better than it has been in the past.” Deppler underlines that as he sees it, almost all the country’s economic woes stem from political problems. Moghadam, for his part, calls the performance of Turkey’s fiscal policy impressive compared with that in emerging markets around the world. “Last year the government ran the highest primary surplus on record in that country, just over 6% of GNP [gross national product],” adds Moghadam. “For the first time in Turkey’s history, the credibility gap – the gap between market expectations and the inflation target – has turned negative.”