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The Current Status of Turkish Economy and the Economic Cooperation between Korea and Turkey
economic outlook, economic cooperation
Author Cheol-Won Lee Series 05-01 Language Korean Date 2005.04.12
The Economic situation in Turkey is gradually reviving thanks to multiple factors such as high-speed growth rate, decrease of interest rate led by currency depreciation, and the slowing down of the inflation rate. However much of the economic reform agenda is still pending including the huge burden of public debt. Red tapes in the bureaucratic system, high commission rate and side costs are regarded as impediments to potential economic growth. In addition, the still growing inflation rate, currency exchange risk, and high interest rate which all result in financial burden, heavy corporation tax, and burdensome electricity cost are hindering Korean firms from entering the Turkish market. (The rest is omitted.)
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