Friday, March 10, 2006

World Bank urges Turkey to bring economy in line with EU norms

EU membership talks are helpful but not sufficient to boost Turkey's economic development, according to a new World Bank report, published on Monday (6 March).

According to the study’s key recommendations, Ankara must increase employment - mainly among women - clamp down on the black economy and make sure children spend more time at school.

The World Bank indicated that the speed of Turkey's convergence to EU average living standards will depend on the pace of its structural reforms, adding "commitment to sound economic policies since 2001 has placed the Turkish economy in a good position to embark on a sustained path of faster growth."

The analysts urged Turkey to take advantage of the fact that EU membership negotiations, which started in October, are likely to boost its economic performance.

But labour market indicators remain a source of concern for the country's observers.

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