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2014 OECD Economic Outlook, Volume 2014 Issue 1

image of OECD Economic Outlook, Volume 2014 Issue 1

The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances. Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment, chapters summarising developments and providing projections for each individual country, a special chapter on growth prospects and fiscal requirements over the long term and a statistical annex which includes data on housing, debt, and many other variables.

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Turkey

Economic growth lost momentum in the course of 2013, as capital market tensions pushed interest rates up. Credit and private demand decelerated. Export growth fell, notably due to rapidly declining gold sales. Political tensions have dented confidence, provoking capital outflows and forcing the central bank to raise interest rates sharply in early 2014. Growth is projected to remain subdued through mid‑2015, while the current account deficit will remain very high.

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