Economic Outlook 2008 - June
In shadow of oil and politics
Deloitte Turkey has published its " Economic Outlook 2008 - June" report with the title "In shadow of oil and politics."
This report covers the first five months of 2008. The report argues that revisions to monetary and fiscal policies have been negatively preceived and that this in turn has led to increasing uncertainty. Accordingly, tension in the political arena and soaring gasoline prices have had negative ramifications on the economy. In order for this trend to be reversed;
- There needs to be a resolution to the political uncertainties,
- Stricter adherence to fiscal discipline,
- A new arrangement with the IMF (preferrably a pre-cautionary stand-by agreement) and
- A continuation of structural reforms.