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|z 9781513524641
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|a 1934-7685
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
|b European Dept.
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|a Turkey :
|b 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Turkey.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2019.
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|a 1 online resource (84 pages)
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|a IMF Staff Country Reports
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This 2019 Article IV Consultation with Turkey discusses that economic growth has since resumed, buoyed by expansionary fiscal policy, rapid credit provision by state-owned banks, and more favorable external financing conditions. The lira also recovered as market pressures abated. Import compression and a strong tourism season have contributed to a remarkable current account adjustment. Inflation has fallen sharply, and the central bank cut policy rates by 1000 basis points since July 2019. Inflation peaked at around 25 percent-five times the target-in October 2018 due, in large part, to high exchange rate passthrough and rising inflation expectations. However, strong base effects, relative lira stability, and a negative output gap have since contributed to a steep inflation decline, although inflation expectations remain well above target. State-owned banks are supporting rapid credit growth. While private banks have cut back on their lending, state-owned banks have engaged in a major credit expansion which picked up pace in early-2019.
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|a Mode of access: Internet
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|a IMF Staff Country Reports; Country Report ;
|v No. 2019/395
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/002/2019/395/002.2019.issue-395-en.xml
|z IMF e-Library
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