Fatih Özatay, PhD
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Conditions for the success of the program and the IMF
I already started to discuss the success conditions of the Medium Term Program announced in mid-September. The points I touched upon on my last commentary were: promised…
Conditions for the success of the program
Growth forecasts of the Medium Term Program (MTP) for the 2010-2012 period is as follows: 2010: 3.5 percent, 2011: 4 percent, 2012: 5 percent. If these forecasts are…
MTP and independence of the Central Bank
Among the most important elements of the Economic Recovery Program launched in Turkey in the aftermaths of the 2001 crisis was the granting of independence to the…
Large difference between industrial growth figures
Recently, economy media lays particular emphasis on one point: There is a significant difference between the national income growth figures for the second quarter…
Medium term program has three vulnerable points
Yesterday Deputy Prime Minister Ali Babacan announced the medium term program for 2010-2012 period with a press meeting. Moreover, revised estimates for 2009 were also…
'IMF light' again after nine months
Discussions in Turkey so as to whether or not Turkey should sign an agreement with the IMF are posited over wrong grounds almost for a year. I believe that a substantial…
Turkey is overcoming the economic crisis: a new indicator
Oh God! How do I make this mistake? How did I miss the leading indicator showing that Turkey is about to leave behind the economic crisis? I apologize to you all. But…
Things the meeting made me think
I was trying not to write about the top-topic IMF issue as it became highly boring and unpleasant. But, today I will write about the IMF. The reason is: On Monday, I…
Economic opening
In a meeting last week, a businessman said "We also need an economic opening." This sentence is a nice summary of the current economic situation. There exists an…
Time for a new discourse
I still do not understand how Turkey will at least grow by a rate close to historical growth rate of 4.5 -5 percent in the couple of years ahead. And I guess this is not…
Limited things can be done in the short term
The time and the pace of the recovery from recession are now out of our control even partially. If we could have taken the control and make some decisions at the end of…
Fiscal rule and independence
There is a vast literature for the economic policies implemented for politic purposes and the results of those policies. Numerous theoretical studies have been conducted…