Turkey’s Economic development in the last decade, policy issues and the CHP perspective

Turkish Policy Quarterly

By Faik Öztrak*

During the last decade in which the AKP government has been in power, the Turkish economy’s average growth rate was relatively high but not above the long run historic level. A structurally high current account deficit, excessive reliance on one time revenues, fundamental weaknesses in the social and governance domains curtail Turkey’s development prospects. The CHP puts forward a potent sustainable alternative strategy based on a coherent set of employment and environment friendly, competitive, equitable and stable high growth policy instruments. It configures a responsible regulatory framework for a corresponding dynamic market mechanism. This strategy at the same time encompasses good governance, transformation to the knowledge economy and convergence to the EU.

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*Faik Öztrak is the CHP’s Vice President for Economic and Financial Policy and Former Undersecretary of the Treasury.

About CHP EU Representation

The CHP was founded on 9 September 1923, about one and half month before the proclamation of the Republic of Turkey. The first President of modern Turkey’s oldest party was M. Kemal Atatürk. Today CHP is a social-democratic party, member of the Socialist International and associate member of the Socialist Group at the European Parliament. The scope of the CHP bureau in Brussels is not limited to the bilateral framework of Turkey's EU accession process. Issues such as the information society, energy policies, social development, climate change, international trade and security are among the different focus areas. The EU-Turkey relations are about integration and need multiple, plural and horizontal channels of communication. The CHP supports and promotes Turkey's EU membership process also by being more present and active in Brussels The CHP's Representative to the EU is Ms Kader Sevinç who previously worked as an MEP advisor at the European Parliament and in the private sector.
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