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T.R. MINISTRY OF FINANCE

CRISIS MANAGEMENT IN TURKEY. T.R. MINISTRY OF FINANCE. 7th OECD-ASIAN SENIOR BUDGET OFFICIALS ANNUAL MEETING Bangkok, 4-5 February 2010. Reforms After 2001 Crisis. 1. 4. 2. Medium Term Outlook. Effects of Global Economic Crisis. Fiscal Stimulus Packages. 3. 3. Contents.

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T.R. MINISTRY OF FINANCE

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  1. CRISIS MANAGEMENT IN TURKEY T.R. MINISTRY OF FINANCE 7th OECD-ASIAN SENIOR BUDGET OFFICIALS ANNUAL MEETING Bangkok, 4-5 February 2010

  2. Reforms After 2001 Crisis 1 4 2 Medium Term Outlook Effects of Global Economic Crisis Fiscal Stimulus Packages 3 3 Contents

  3. Reforms After 2001 Crisis Abolishing budgetary and extra-budgetary funds Establishing regulatory and supervisory agencies Reforming public debt management Increasing independency of the Central Bank Introducing MTEF and performance budgeting Reform Areas Privatization Reforming revenue administration Increasingtransparency and accountability Reforming public financial management and control system

  4. Success in Fiscal Consolidation EconomicandFiscal Discipline Fight Against Inflation Fight Against Informal Economy

  5. Fiscal Consolidation

  6. Effects of Global Crisis on Turkish Economy Positive Effects Negative Effects Decrease in inflation Decrease in production Decreasein export Decrease in interest rates Recession Increase in debt stock Decrease in CA deficit Increase in budget deficit Decrease in import Increase in unemployment Negative economic expectations

  7. Cost of Stimulus Packages

  8. Medium Term Targets * Medium-Term Program

  9. THANK YOU

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