World economic crisis and its impacts on Turkish economy

This paper aims to examine impacts of current world economic crisis on Turkish economy which has been seriously affecting the country since October 2008, As a result of the fact, the present government stands under heavy pressure in solving and overcoming the fundamental economic problems emerged primarily by world wide financial crisis. In this context we will additionally attempt to identify Turkey’s major economic and political challenges connected with one of the most dramatic and serious economic crisis in the history of The paper has been divided into three sections: In the first the main characteristics of the global world recession will be briefly underlined and current economic issues of the world economy with help of main macroeconomic indicators will be demonstrated. In the second we will focus on the following questions in order to show how deep is the ongoing global recession and how far the global recession has affected Turkish economy? Is there any action plans of the Turkish government aimed at overcoming these challenges in the medium and long term? In the third we will deal with the capability and willingness of Turkish governments to follow right policy measures to tackle these serious economic issues.