A
new and extensive economic program has been
initiated by the beginning of 2000 and this
program has been in progress in Turkey, in order
to decrease the inflation and to reassure the
improvement medium in economic field in Turkey.
In the contents of this economic program,
besides the applications of a severe financial
policy and the execution of extensive structural
reforms, in order to descend the high inflation
expectations rapidly, the exchange values are
pre - determined according to the aimed
inflation and expressed beforehand and the cash
policy had been set to a spectrum in which the
liquidity expansion is dependant on foreign
resource inlet.
At the application of the program, important
steps are taken in the field of structural
reforms and to decrease or limit the public
losses. At the coverage of the structural
reforms, the social security system encountering
major losses for long periods are rearranged and
important steps were taken in order to obtain
the balance between the actives and passives of
the system. The first interference of direct
income support system in the field of
agriculture had been taken and the trials at the
pilot areas were resulted in affirmative
outcomes and the credit interest rates were
determined according to the resource costs. By
the foundation of Banking Supervision and
Arrangement Association as a result of the
reform in financial sector, it is planned and
aimed to gather the activities of supervision,
arrangement and surveillance of the banking
sector under a sole authority. Regarding the
privatization activities, 51 percent of the
Petroleum Office sold as a block and 31.5
percent of TـPRAق was sold by the public
submission in the year 2001. Besides, the income
obtained from the cellular phone license sales
were higher than expected.
