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2005 OECD Economic Outlook, Volume 2005 Issue 1

image of OECD Economic Outlook, Volume 2005 Issue 1

Presents OECD's assessment of the economic outlook to the end of 2006 for the OECD area and China, Brazil, and the Russian Federation.  It finds that Japan and the US have rebounded but that Europe is lacking in sustained momentum, and it carefully examines why. This issue of the OECD Economic Outlook also includes several medium-term scenarios projecting to 2010. The special chapter covers measuring and assessing underlying inflation.

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Turkey

Dynamic household consumption and private investment backed by strong confidence raised GDP by nearly 9% in 2004, for a third consecutive year of high growth. Absent any shocks, expansion should remain robust in 2005 and 2006 at a more sustainable rate of around 6%.

The strict macroeconomic policy mix and structural reforms should be fully enforced to ensure that growing capital inflows do not reverse suddenly in the future, and that the domestic economy makes efficient use of such financial resources.

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