Turkey’s business sector dynamism has underpinned broad-based and inclusive growth in the 2000s. However, the business sector is highly segmented, with a relatively small core of modern high-productivity corporations, and myriad small, less formal and low-productivity entities.
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process.
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Below upper secondary attainment levels have decreased while upper secondary attainment and graduation rates have remained stable.
Turkey’s economy will grow stronger in the coming years, but remains overly dependent on domestic consumption funded by foreign finance, according to the latest OECD Economic Survey of Turkey.
Business dynamism has underpinned inclusive growth in the 2000s. Strong growth without widening external imbalances calls for structural reform in the business sector to boost productivity and allow firms to better compete in export markets and at home.
Organised in Istanbul, this event focused on financial education across Europe and in Turkey, the role(s) of the private and not-for-profit sectors in financial education, financial literacy and innovation for young people and financial education for migrant workers and their families.
Following recent Turkish media reports, the OECD would like to clarify that it has published no recent review of Turkey. The publication of the 2014 Economic Survey of Turkey is planned for July.
The average worker in Turkey faced a tax burden on labour income (tax wedge) of 38.6% in 2013 compared with the OECD average of 35.9%. Turkey was ranked 16 of the 34 OECD member countries in this respect.
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Analysis for Turkey from OECD trade facilitation indicators that identify areas where countries can improve border procedures, reduce trade costs, boost trade flows and reap greater benefits from international trade.
Turkey has demonstrated good resilience during the financial and economic crisis though growth has been slowing more recently. Policy challenges include addressing infrastructure shortfalls, improving access to quality education, and achieving a better balance in social protection in order to foster job creation and employment in the formal sector.