Turkey Economic Monitor, August 2020 : Adjusting the Sails
Despite an initial surge in COVID-19 cases, cross country data suggests that Turkey containedrelatively quickly the spread and worst health effects of the virus. As in other countries, however, continued vigilance is essential to sustain this fragi...
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/300771597079660362/Turkey-Economic-Monitor-Adjusting-the-Sails http://hdl.handle.net/10986/34318 |
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okr-10986-343182021-06-14T09:53:20Z Turkey Economic Monitor, August 2020 : Adjusting the Sails World Bank ECONOMIC GROWTH CORONAVIRUS COVID-19 HEALTH CRISIS PANDEMIC IMPACT CURRENT ACCOUNT DEFICIT UNEMPLOYMENT ECONOMIC SHOCK FISCAL POLICY MONETARY POLICY POVERTY ECONOMIC OUTLOOK ECONOMIC RECOVERY TRADE Despite an initial surge in COVID-19 cases, cross country data suggests that Turkey containedrelatively quickly the spread and worst health effects of the virus. As in other countries, however, continued vigilance is essential to sustain this fragile trend. Turkey’s pandemic response may offer some lessons, notwithstanding country specific conditions. Turkey implemented social distancing, mobility restrictions and health policies relatively quickly. This may have enabled more targeted measures compared to countries that reacted later, forcing them into more widespread lockdowns. Targeted measures in turn could have helped contain the spread of the virus, mortality rates, and perhaps even some of the decline in economic activity. Lessons from other countries suggest that health, social distancing and some mobility measures should be maintained to prevent the risks of a second wave. The economic impact of the COVID-19 health crisis has understandably derailed a fragile economic recovery in Turkey. By the second half of 2019, the economy started to gradually recover from the shock of the mid-2018 economic turmoil. Inflation moderated and external balances narrowed. The situation turned quickly by March 2020 – the TEM takes stock of the economic impact of COVID-19 through five different channels. 2020-08-11T13:21:40Z 2020-08-11T13:21:40Z 2020-08-10 Report http://documents.worldbank.org/curated/en/300771597079660362/Turkey-Economic-Monitor-Adjusting-the-Sails http://hdl.handle.net/10986/34318 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Europe and Central Asia Turkey |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ECONOMIC GROWTH CORONAVIRUS COVID-19 HEALTH CRISIS PANDEMIC IMPACT CURRENT ACCOUNT DEFICIT UNEMPLOYMENT ECONOMIC SHOCK FISCAL POLICY MONETARY POLICY POVERTY ECONOMIC OUTLOOK ECONOMIC RECOVERY TRADE |
| spellingShingle |
ECONOMIC GROWTH CORONAVIRUS COVID-19 HEALTH CRISIS PANDEMIC IMPACT CURRENT ACCOUNT DEFICIT UNEMPLOYMENT ECONOMIC SHOCK FISCAL POLICY MONETARY POLICY POVERTY ECONOMIC OUTLOOK ECONOMIC RECOVERY TRADE World Bank Turkey Economic Monitor, August 2020 : Adjusting the Sails |
| geographic_facet |
Europe and Central Asia Turkey |
| description |
Despite an initial surge in COVID-19
cases, cross country data suggests that Turkey
containedrelatively quickly the spread and worst health
effects of the virus. As in other countries, however,
continued vigilance is essential to sustain this fragile
trend. Turkey’s pandemic response may offer some lessons,
notwithstanding country specific conditions. Turkey
implemented social distancing, mobility restrictions and
health policies relatively quickly. This may have enabled
more targeted measures compared to countries that reacted
later, forcing them into more widespread lockdowns. Targeted
measures in turn could have helped contain the spread of the
virus, mortality rates, and perhaps even some of the decline
in economic activity. Lessons from other countries suggest
that health, social distancing and some mobility measures
should be maintained to prevent the risks of a second wave.
The economic impact of the COVID-19 health crisis has
understandably derailed a fragile economic recovery in
Turkey. By the second half of 2019, the economy started to
gradually recover from the shock of the mid-2018 economic
turmoil. Inflation moderated and external balances narrowed.
The situation turned quickly by March 2020 – the TEM takes
stock of the economic impact of COVID-19 through five
different channels. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Turkey Economic Monitor, August 2020 : Adjusting the Sails |
| title_short |
Turkey Economic Monitor, August 2020 : Adjusting the Sails |
| title_full |
Turkey Economic Monitor, August 2020 : Adjusting the Sails |
| title_fullStr |
Turkey Economic Monitor, August 2020 : Adjusting the Sails |
| title_full_unstemmed |
Turkey Economic Monitor, August 2020 : Adjusting the Sails |
| title_sort |
turkey economic monitor, august 2020 : adjusting the sails |
| publisher |
World Bank, Washington, DC |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/300771597079660362/Turkey-Economic-Monitor-Adjusting-the-Sails http://hdl.handle.net/10986/34318 |
| _version_ |
1764480653102940160 |