T.R. MINISTRY OF FINANCE
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Transcript of T.R. MINISTRY OF FINANCE
LOGO T.R.
MINISTRY OF FINANCE T.R.
MINISTRY OF FINANCE
7th OECD-ASIAN SENIOR BUDGET OFFICIALS ANNUAL MEETING
Bangkok, 4-5 February 2010
CRISIS MANAGEMENT IN TURKEY
Contents
Reforms After 2001 Crisis 1
Medium Term Outlook4
Fiscal Stimulus Packages
33
Effects of Global Economic Crisis2
Reforms After 2001 Crisis
Establishing regulatory and supervisory agencies
Reform Areas
Reform Areas
Reforming revenue administration
Abolishing budgetary and extra-budgetary funds
Increasing independency of the Central Bank
Reforming public debt management
Reforming public financial management and control system
Increasing transparency and accountability
Introducing MTEF and performance budgeting
Privatization
Success in Fiscal Consolidation
Fight Against Inflation
Economic and Fiscal Discipline
Fight Against Informal Economy
Fiscal Consolidation
Effects of Global Crisis on Turkish Economy
Increase in unemployment
Recession Recession
Decrease in import
Decrease in inflation
Negative economic expectations
Decrease in production
Negative Effects Positive Effects
Increase in budget deficit
Increase in debt stock
Decrease in export Decrease in interest rates
Decrease in CA deficit
Cost of Stimulus Packages
(Millions of TL) 2008 2009 2010 2008-2010
Revenue Measures 30 4.077 1.748 5.855
Expenditure Measures 7.880 17.217 21.141 46.237
Direct Impact on the Budget 7.910 21.294 22.889 52.092
In Percent of GDP 0.83 2.25 2.22 5.31
Medium Term Targets
* Medium-Term Program
LOGO