Turkey’s economy is mostly free-market, and there has been a push to privatize industry, banking and transportation. Fiscal reforms instituted after a financial crisis in 2001 have helped Turkey recover from the global financial crisis in 2008, with 8.2% growth in GDP in 2010. The country is dependent on imports of foreign oil and gas for 97% of its energy, but developments in the energy sector are expected to reduce that dependence, especially the operation of the Baku-Tbilisi-Ceyhan oil pipeline.
Osman Balci
