The MTP of Diminished Expectations

TURKEY - Report 09 Oct 2014 by Murat Ucer
The government announced the Medium-Term Program (MTP) for 2015-17 yesterday, in a timely manner. This is typically done before the submission of the budget to parliament, by the constitutionally-set deadline of October 17th. Despite its shortcomings, the MTP is a very useful document that lays out how the government sees the macro aggregates hang together in the coming three years. It also provides the broad fiscal aggregates for the following year’s budget. Finally, the document shares the government’s policy intentions at a headline level. The bottom line though is that, this latest MTP ...

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