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2019 OECD Economic Outlook, Volume 2019 Issue 1

image of OECD Economic Outlook, Volume 2019 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, a special chapter on the effects of digitalisation on productivity and a chapter summarising developments and providing projections for each individual country.

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Turkey

After the severe financial shock in August 2018, which triggered a recession in the second half of the year, strong fiscal and quasi-fiscal stimulus have moderated the contraction in early 2019. However, investor uncertainty remains high after the recent municipal elections. Business and household sentiment are affected by increased uncertainty. Absent any new shocks to international and domestic confidence, a measured recovery is projected from the second half of 2019 onwards, although the level of GDP in 2019 and 2020 is projected to remain below the 2018 level. Substantial risks remain around the projected recovery of growth.

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