Turkey missed its key economic targets in 2014
Turkey failed to attain most of its key economic targets last year, but was likely to receive a boost from falling oil prices in 2015.
![TURKEY/ Ford Tourneo Courier light commercial vehicles are seen at the Ford Otosan Yenikoy car plant in Kocaeli May 22, 2014. REUTERS/Murad Sezer (TURKEY - Tags: TRANSPORT BUSINESS) - RTR3QFUD](/sites/default/files/styles/article_hero_medium/public/almpics/2015/01/RTR3QFUD.jpg/RTR3QFUD.jpg?h=f7822858&itok=fTrKxEIh)
Turkey failed to achieve its main economic targets in 2014, barring a significant decrease in the current account deficit. This outcome had become obvious months ago, prompting the government to revise its middle-term economic program in October. The current account deficit narrowed more than expected, thanks to the fall in oil prices and the slowdown in economic growth, but most year-end indicators fell behind even the revised targets.
Let’s first see how the targets had been revised: