Turkey’s economy during the Covid-19 Pandemic: Light at the end of the tunnel?

Altay Atli
Brief n.12 dell'Osservatorio Turchia

The Covid-19 pandemic impacted the entire global economy by shutting down both the demand and supply side, and Turkey’s economy was no exception. During the process, Turkey has seen its production levels declining, sales dropping, export and tourism revenues collapsing, however an economic collapse has not been the case, mainly thanks to policy measures taken including a carefully kept balance between lockdowns necessary for dealing with the pandemic on one hand and continuation of selected economic activities on the other.  Turkey’s economy can return to its pre-pandemics and even exceed it, if normalization is planned and implemented in the optimal way in the short term, and if structural challenges already faced by the economy before the pandemic can be addressed in a concrete and determined way in the medium to long term.

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