Embassy of Sweden Visited TEPAV After the Referendum In a visit of the delegation from Embassy of Sweden to TEPAV, Sak talked about political prospects after the Referendum

ANKARA - A delegation from Embassy of Sweden visited TEPAV on September 23, 2010. The delegation was briefed about Turkey's economy and political prospects after the Referendum on constitutional change by TEPAV Director Prof. Dr. Güven Sak. Sak maintained that Turkey is full of opportunities but also struggling to upgrade to an innovation-driven rich economy in an uncertain policy environment.

Sak made a presentation titled "Turkey's structural transformation and prospects after the Referandum & Role of TEPAV" in the meeting. Sak first gave brief information about TEPAV and its studies, and then talked about the results of the recently held Referendum on constitutional change. Evaluating the results of the Referendum Sak said that 3 million voters seem to have switched from one side to another and said "yes". Sak referred to the non-AK Party bloc which gave the "yes" votes and added that economic activity is one of the determinants of "yes" votes. Underlining that AK Party seems to create an new +50 percent voter base with the Referendum coalition, Sak said that after the Referendum risk of political uncertainty decreases. Sak also stressed that political stability does not necessarily bring policy stability.

Subsequently, Prof. Sak addressed Turkey's structural transformation in his presentation. Sak referred to mass urbanization, proliferation of industry in Anatolia, organised industrial zones experience, transformation in retail sector and political transformation in this context. On the other hand Sak evaluated that Turkey might be trapped as an investment driven middle-income country and, need a strong and diverse reform agenda as well as infrastructure investments.