Question

What are the strategically relevant components of the Macro-Environment of ''Man Türkiye(Turkey)''?

Answer 1

TURKEY	2019
Population ( million)	82.6
Gross Domestic Product, (current US$ billion)	754.8
GDP per capita, (current US dollars)	9,140
Life Expectancy at Birth, (years )	77.2

Turkey’s socio-economic development since 2000 has been impressive, leading to augmented employment & level of incomes & making it an upper-middle-income nation. However, in the last few years, growing economic weaknesses & an increasingly challenging external environment have put those achievements in jeopardy.

For most of the time period since 2000, it has maintained a long-run focus on executing ambitious reforms in several areas, & governmental programs have targeted vulnerable clusters & disadvantaged locations. Poverty incidence halved over 2002–15, & extreme destitution declined even faster.

During this period, it urbanized radically, maintained robust fiscal & macroeconomic strategy frameworks, opened to international trade & funding, harmonized several regulations with EU standards, & greatly enlarged access to public services. It also recovered rather well from the worldwide crisis of 2008/09.

It’s response to the influx of nearly 3.6 million Syrian refugees has been commendable & provides a model to other nations hosting refugees. However, there’s been a slowdown in reforms in many domains in recent years that, along with economic weaknesses, risks reversing some of the developments made to date.

The overall macroeconomic scenario is more susceptible & uncertain, given rising level of inflation & unemployment, contracting investment, elevated financial & corporate sector weaknesses, & patchy execution of corrective strategy actions & reforms.

There’re also considerable external headwinds on account of continuing geopolitical tensions in the sub-region. The effect of the COVID-19 crisis is anticipated to have a severely adverse impact in Turkey, further enfeebling socio-economic gains.