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Western EuropeSeptember 1 2017

Turkey builds recovery on credit with an eye on elections

The Turkish government has launched a bold stimulus programme aimed at lifting the economy out of its slump ahead of coming elections, but at what long-term cost to the nation’s finances? Tom Stevenson reports.
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The failed coup in Turkey in July 2016, which almost succeeded in ousting president Recep Tayyip Erdoğan’s government, left a harsh legacy on both the country’s politics and its economy. With a state of emergency in place, the government has doubled down on its strict security policies and Turkey as a whole remains shaken.

The coup attempt and Mr Erdoğan’s subsequent purges of the civil service, security services, media and business world caused the country's economy to contract in the third quarter of 2016 for first time since the global financial crisis.

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