So far the Turkish economy has proven to be sufficiently resilient against some monetary re-adjustments that in the past would have caused problems.
The present government, tied up with the upcoming elections and the EU accession talks, still manages to master inflation rates and maintain economic growth objectives. Due to ongoing legislative and budgetarian efforts, a reassuring International Monetary Fund (IMF) report and a cautious but positive Organization for Economic Co-operation and Development (OECD) report on corporate governance were obtained.
Foreign direct investment is improving and on the local financial markets, several new international players have established themselves (amongst others Fortis and Dexia). These firms import the required energy, knowledge and expertise, new types of financial instruments and will enhance competition and innovation. Such incentives are much needed by the comparatively inexperienced local financial markets (both conventional and Islamic) that – sometimes also hindered by reluctant regulatory bodies – struggle to innovate.
read more in the Dinar Standard.
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