OECD: Turkey Must Keep Tight Fiscal Policy, Key For Confidence
The Organization for Economic Cooperation and Development praised today Turkey's medium-term economic plan as prudent, but stressed that policymakers should avoid pro-cyclical spending if the economy grows faster than expected and it urged the central bank not to wait too long before withdrawing stimulus. In its latest economic outlook, the OECD said Turkey's economic growth will likely exceed 8% this year, before moderating to around 5% in the two following years as a rebound in exports, consumption and investment tapers off. (DJ)
Thursday, November 18, 2010
Here's an excerpt from IMF's Daily Press Briefing:
I learned the publication of the report through the Fund's email, so naturally, I have not had a chance to even skim through the report. But since things are quiet around Bayram, I hope to do so in the next few days and then relay thoughts here.
But one thing note is that while 8 percent growth this year is certainly possible, I find their 2011 and 2012 projections a bit on the optimistic side...