Turkish Policy Quarterly
By Faik Öztrak*
During the last decade in which the AKP government has been in power, the Turkish economy’s average growth rate was relatively high but not above the long run historic level. A structurally high current account deficit, excessive reliance on one time revenues, fundamental weaknesses in the social and governance domains curtail Turkey’s development prospects. The CHP puts forward a potent sustainable alternative strategy based on a coherent set of employment and environment friendly, competitive, equitable and stable high growth policy instruments. It configures a responsible regulatory framework for a corresponding dynamic market mechanism. This strategy at the same time encompasses good governance, transformation to the knowledge economy and convergence to the EU.
*Faik Öztrak is the CHP’s Vice President for Economic and Financial Policy and Former Undersecretary of the Treasury.