Turkey Economic Monitor, August 2020
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World Bank, Washington, DC
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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.
Palabras clave
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