Paper
Sinan Ülgen
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"Carnegie Endowment for International Peace",
"Carnegie Europe",
"Malcolm H. Kerr Carnegie Middle East Center"
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"collections": [
"Turkey’s Transformation"
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Source: Getty
In The Media
Turkey Has the Chance to Do Things Differently on Its Economy
Turkey has begun to take steps toward a more coherent economic policy, but its outcome will ultimately be determined by President Recep Tayyip Erdogan.
By Sinan Ülgen
Published on Nov 11, 2020
Source: Bloomberg
Long criticized for its unconventional economics, Turkey’s government has started taking steps toward a more rational approach.
The adjustment was triggered first by the sacking of the country’s central bank governor, Murat Uysal, and then the puzzling resignation on Sunday of the finance minister, Berat Albayrak. The latter — son-in-law to President Recep Tayyip Erdogan — was quickly replaced by Lutfi Elvan, a respected AK Party politician and ex-deputy prime minister. Former Finance Minister Naci Agbal is taking over the central bank.
Having such a seasoned economic management team is a welcome change, but its task will be complicated by the extreme centralization of power in Turkey and a backdrop of geopolitical risk.
Read Full Text
About the Author
Sinan Ülgen
Senior Fellow, Carnegie Europe
Sinan Ülgen is a senior fellow at Carnegie Europe in Brussels, where his research focuses on Turkish foreign policy, transatlantic relations, international trade, economic security, and digital policy.
- From Trade Dependence to Geopolitical Leverage: The EU in an Era of Weaponized Interdependence
- The EU Equivocating on Turkey Is Bad GeopoliticsCommentary
Sinan Ülgen
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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