In addition to its sound macroeconomic policies, Turkey has implemented a comprehensive and far-reaching structural reform agenda. Compared with the experiences of other countries, Turkey’s success has been remarkable due in no small part to the speed in which it has carried out structural and institutional changes. Indeed, Turkey has made great progress in restructuring its financial sector, as well as in improving both public sector governance and its business environment.
The structural reforms that have been implemented aim to:
- increase the role of the private sector in the Turkish economy
- enhance the efficiency and resiliency of the finance sector
- place the social security system on a more sound footing
These reforms have strengthened the macroeconomic fundamentals of the Turkish economy. At the same time, Turkey keeps a close eye on global and domestic developments and adjusts its business environment accordingly. In this regard, the “Priority Transformation Program” was announced by the government to achieve the following aims:
- Qualified people, strong society
- Innovative production, sustainable growth
- Livable places, sustainable environment
- International cooperation for development