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2018 OECD Economic Outlook, Volume 2018 Issue 2

image of OECD Economic Outlook, Volume 2018 Issue 2

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, a special chapter on the implications for public policy of the decoupling of wages from productivity and a chapter summarising developments and providing projections for each individual country.

The Statistical Annex is available on-line only at https://dx.doi.org/10.1787/eco_outlook-v22018-2-en

 

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Turkey

Following several years of strong growth and significant external borrowing, the exchange rate has depreciated steadily since mid-2017. Intensified market pressures in August 2018 led to a further depreciation of around 30%, followed by a partial recovery thereafter. The economy is projected to contract in 2019 as a sharp fall in domestic demand from the second half of 2018 will be offset only partially by an increase in exports. A gradual recovery in domestic confidence and demand is projected to help growth to recover in 2020.

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