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Turkey, Economy

Turkish economy, austerity measures, annual rate of inflation, important industries, labor force

Turkey’s manufacturing sector has grown considerably since 1950, but in the early 1990s farming still engaged nearly half the labor force. The government has a great deal of influence over the Turkish economy and owns several important industries. In the mid-1990s the economy was beset by a growing budget deficit and an annual rate of inflation as high as 150 percent. In response, the government initiated austerity measures that included accelerating the pace of a privatization program and increasing the price of goods produced or sold by government enterprises.

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Turkish economy, austerity measures, annual rate of inflation, important industries, labor force, pace, percent, price of goods, response

 
 

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