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.
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 still has a large income gap vis-à-vis most advanced OECD countries, reflecting both a relatively low productivity level and a low employment rate, which is the lowest among OECD countries.
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.
These country notes contain indicators which compare the political and institutional frameworks of national governments as well as revenues and expenditures, employment, and compensation. They include a description of government policies on integrity, e-government and open government.
Unemployment is high and large numbers of children and adults do not have the basic skills necessary to thrive in today’s global economy. We need to kick-start a global skills revolution and build the policies that will save a whole generation, said OECD Secretary-General.
Mr. Angel Gurría will be in Istanbul on 2- 3 October 2013, to attend the Informal Meeting of OECD Ministers of Education taking place under the overall theme Fostering skills and employability through education. The Secretary-General will deliver opening remarks on “Kick-starting a global skills revolution”, alongside Prime Minister Recep Tayyip Erdoğan and Minister of National Education Nabi Avci.