Report No. 11903-TU

TurkeyRecent Economic DevelopmentsVolume It: Annexes

December 3, 1993

Country Operations DivisionCountry Department IEurope and Central Asia Region

FOR OFFICIAL USE ONLY

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CURRMCY- EOUIVAL,EM

Cumc Unit = LTula 1Th)

Valuo of US$1.O)

1990* 2608.61991* 4171,81992* 6872.4Augaut 30 1177.0

FAL YEAR

Jauary I - Docibor 31

Turlex - Comtry EC a UjrandimRecqs EconomiA DeveloVel a and the 1993 rWeonogSe ProgrV

,suzzinmC AmIIS

List of Tables

1. Gross Nationl Product by Sector (1984-92)2. Mcroecnmic alanaes (in Current Prices. 1985-92)3. Macrwconomic Balances (at 1988 Prices, 1985-92)4. MacrocconomLc Balances (at 1988 Prices, 1985-92)5. Macroeconomic Peflators (1985-92)6. Total Fixed-Capital Investments by Sectors (1985-92)7. Public Flied-Capital Investments by Sectors (1985-92)8. Private Fixed-Capital Investments by Sectors (1985-92)9. Nanufacturing Industry Production Index by Quarters (1986-92)10. Private Manufacturing Sector Production IndAx (1983-92)11. Private Sector Capacity Utilization (1986-92)12. Developments in the Domestic Labor Market (1987-92)13. Uholesale Price Index (1989-92)14. Consumer Price Index (1989-92)15. Consolidated Central Government Budget (1989-93)16. Domestic Treasury Borrowing (1988-92)17. Interest Rates on Goverrnmt Bond and Treasury 5ill Auctions (1988.92)18. Profit and Loss Accounts of SOEs (1987-93)19. Financing Requirements of SOEs (1987-93)20. Consolidated Accounts of Extra Budgetary Funds (1984-93)21. Public Balances (1986-93)22. Total Assets and Domestie Liabilities of the Central Bank (1987-92)23. Central Bank Balance Sheet (1987-92)24. Central Bank Money Stock (1987-92)25 Exports and Imports (1987-92)26. Exports by Sectors (1987-92)27. Imports by Sectors (1987-92)28. Oil Imports (1987-92)29. Balance of Payments (1986-93).30. Outstanding External Debt (1985-91)31. Debt Service Payments (1986-91)32. International Reserves (1985-92)33. Exchange Rate Developments (1987-92)

el" Pg Us I I.$

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r*-S LW 119 10 12') 060 ra W".P U

*~~F VI 601 *1 ri VS V s tS W.5 |i w is

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6el 'i re V'0 It S-9 £1 rt 009 SeIJi S) 3 dS*' 91 r9 S*9 s*t ct ri 9r 6n5MS oSwIVs 93o o09 9t re WV 1-9 5Sl)W#od l).ie.. .. is61 tt W 6s 6t 92 93 -Si 1 ,*0 00 39t 01 A*t 1 VI t 51 S et SWIM4lbII 191115ro s ri rt o tg sV rt VA Po 0013614"Mw.*- r9 0 V?I 1.9 rS 66 96 9 9 93 gsinS* * 6'I . t 0i t1*l L9 to9 6Z et W13u1Srt re 919 Vt rIt 99 V9 0ob £5 UM"

rot 90 f r s r.9 601 ss0 to VII 43. pa. us 'A&-'ja139 9 901 01 21 got 66 9`6 rS rot t90e tot 903 ") A'S t r (9} ) Wi 4 "9`9 a's 0`6 to t*o 9`6 '9 r9 Vol Aa's* '' 0 t".U) r` @-0i VS (1-F6 5& " $

0' '' Q') "0l) 0-00 *@ 90 0o0 re A0 sS''1 (r01) See 1oi *' 091 V *DSWSS ro ro ri1 (9o0) 01 tog 6L 9*0 go tIS

2661,3 61 06 01 36 S 6 6

(1661 soSn a" 403' Sla f3 a" aW 5lu IPI*U J ° e. lPmq u* bsaw dsowi IWAmujow Aq3=pd 1ln3. meS sAsqJn% 01 oWpL

Tale .L T~ N m 3ains(tn eAart prices 19)

1013

1. 6? 11 27.797 39.370 50,50 100,582 170,412 W.84 49,20 774.ML Flaip dcit in 6 (2,2) 2 , 68t0 (loom fewS. Teto rawee (dw d 3,322 40,0 9.4 W 1is 3 294*0" 452,134 7o2.t4. Totalis 1setut 5.78 9,594 14.7, 2.895.6 74,547 100.531 165467S. Plid Wapit fl m ton 5S162 9.07 14: 24. 5 "7 64.244 102.3 167,59Da. Prive 2,326 3.856 658 6 222353 55;36 89.61b. 9.. S,236 SIM2 7,48 114 120 2 4n0 77*7126. Ihus In sta 1a 209 516 15A 49 30) 10,305 (1, M) (4.1a. PrIvet. 26 491 51 so9 I'm.72 (2.5) 11b. 9.641. (9 15 25 (M3 (9) 6.50 67 (15.4207.owte ewmaptimm 22,54 50.156 440412 14.124 lI.0629,517 351.605 6193Rule641 diapm*e Irma Soon9 7,449 loom1 17,54 3,009 53.216 Is,3= 121.99. N"s e_ amn 2.3 3.491 5,23 7, 19246 40,015 12,111 139.5510. 9.fe ain 2,723 4,157 4,90 8,8 l10,4 t319t 31 (4,591)11. 9e lw 1 5.247 7t?t' 10.61 1681W 34.471 477M 62.M12. P. isevip (O4) (100) O2A769) (2.09O) .5) (211,2) (44m7) (4640

t3.PIvate nos" Mom1 230 4n.332 5.040 140.4 23" 379 "9.M14. Priva"t . tlm 3,165 276 39.39 M,o2 111.40 179042 27940 49miS. Pit al" 2,534 4,456 9.143 17618 2 5 544 94 195M16. Privet.wastmeb * .615 4,U47 7.00 13,258 20.25 4.076 52. 101.3017. PrIvfte "Weavfrgsiat.m ga (of) in9 I'm7 4568 8.060 14.470 45.645 58.1018. PrIvate smp raft. t1.2 14.0 10.9 21.3 20.45 liSt 21.06 24.5?". .Ai eavte nat 53.4 54.4 46. 30.4 X.3. 34.76 4.1 (36)20. tal t es mltie gs 5257 0I 6 SIM 14.6 .456 59.,7 M7or 101,401 154,M21. t1 _tamU N8 24.4 25.2 24.0 82.12 25.95 22.1 21.11Z2. IavIsu/I 18.9 21.9 2N.1 2.5 8s51 nit 22.4' 2 3.4

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.9Us 196r g196 96 1 1990 1991 Istae

I. 9,2 97058W t1,052 101,454 111,61 112,07 11,262. f?aoi daelft (592) 2,030 Ur (2286) (1.653) 5su2 1,29 4,363. Total grsmes obsrptimn) 82,935 92,355 ,97.9 96I31S5 19 1169,013 114.01 122.604. tot0l nImntUU t 21,5t9 21,368 25,715 2,16 25.618 31,03 26,5S2 21,728S. fim edapitaI fortein 20:944 23.202 21,44 U 242140 23M 2,116 27,14 2V,356

a. Private 6,095 9,423 11.175 12.688 13.105 1S,566 15028 15,230b. P%tMIe 12,49 13,7#9 13,m 11.451 10.696 11,550 11.9:" 12.118

6. Chunes In stasb du3 1146 1.270 49 (18) 3,969 (4U2) CM23)a. Provte o3 1,091 647 S69 49 143S (629) 1762b. M§c (199) SS 403 (152) (232) 2,535 167 (2 390)

T. total kcsm 0t1ion 61.356 68,010 7209 74,126 77183US82 87.524 95.677

S. Pice dIspodake 1nm ", 19212 16,995 1T,.m 17,54 15.t641 15.591 11,390 10,16Z9. _16 Ion tlon 7,727 2 6, # ? 544 $70 6,994 10,520 10,4S0 tO1,3116. PuMfo savliws 11.485 10,756 6S,6 6,6 6.,64r ,o0 0o (4857It. PdAte Imstaumnt 12,451 13,834 13,675 t0,931 10,464 14,03 12,153 9,72612. _Ic sawngs-tvwst.unt gp (1,145) (3,0?67 (4,96) (2.096) 03.617) (9,013) (11,39M) (10.391)

13. Private di.posabl. Imme. 44,315 71,46 79,7M 83.040 84.613 96,20 100.817 106.09614. Private eonsuptIon 53.629 s.sm 7 63.65 454,22 48,169 75.306 76945.016IS. Private swIng 10,664 11,531 1%.120 17.616 16.424 20,972 23Q 20.214. PrIvate Imiarstmnt 8,92B 10,S14 12,Q02 13.258 131,, 17,000 14.399 17,00017. Private swAmnu*I,mste.nt gap 1,138 1,017 4,071 4,360 5,270 3.972 9.521 6.052

16. prvate savngs rate 16.6 16.2 20.2 21.2 21.27 21.13 23.75 21.3319. FeIb. s1angs rate 5a 56.6 s0.5 50.4 43.22 32.53 6.47 (4.52)20. tot Al d tl savIngs 22,171 M22.28 24,649 24,456 25,21 2,044 24.60 22.3692M. iewtmomntIP 258 27.0 24.5 24.0 8 .05 2.79 25.66 22.022. 8evInsI8H 24.5 21.7 25.6 24.3 21.67 23.30 22.00 16.95

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So"w 0s Zens VW9 r. o'a ra all" us Ut )reZ 9-SS SON VW rlu .ZU1 $*O S" 31m*q91 Z9 clog ifS" '6 rLI SS 9d1 C'st qS bS Pula '99'f9 Ca!? I'S r6'9 )'L 'S19 Vi' 9'S) 3* 1 .*9

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1~1. 6. 1w*e~tgTott Uixoa Cital tiwes by State. 19f6t4

1992195 19"6 1937 19W 193 Iw 1991 hltl

A. At Curent Prteie (billIon TI)

AthCtue 4 415 1,090 1,7 2. 4,4 7,66 11 1tIffning 3S2 402 405 690 6 1,39 2,395 3.71

onuwecturlin 1,1 1.,5 2,.20 3.07 5,171 1129 171.72 29.1gnerv 7M 1.315 1.77 It259 5.53? 64 6,04 156Truansprtation 1,322 2.093 3,349 4,767 7,379 1414 24,661 3917Toursim 6o 212 369 m 1.547 2,5 4063 553Uosulsn 796 1,463 2.976 66 10.732 16,11 23509 3ciulon 145US 21? 346 49 1.161 2.15 3.4 6.2keIth 50 a7 16 2g 5 1t,9Z 1942 39,69OUse evce 46 90 1.315 195,19 2.64 4,591 J,192 13,301

tout 5,5-2 9.089 14,028 24.139 38,159 64,243 102.394 167,590

U. At 9 Prices (illito I)

hsriedtw 1."4 1M2 1,62 1,727 1,616 1,794 1,902 1,716Ulnfrw 1.472 1.106 715 690 5u 577 w5 529Narfaumtng 4,616 4,61 3.369 3.5 3.343 5,185 5,220 5,29mbusy 3,070 3,54 3,25 3.259 3,442,713 2. 2.360Tranportetion 5,009 5.t412 5,3 4.767 > 4 061 .7 6,466Touari 27 Sa 635 786 9 1 I060 1 93

uBis 2,69 3,546 4.5 6.34 6.2 67 5.813actlen 501 D5 610 69 m 913 1.071

Nesth 173 211 263 259 322 442 510 591Othew SaM. 1,466 2.259 2,363 1,95 1,609 1,930 .t236 2.566

Tout 20,932 23.278 24,46 24,139 21,901 27,116 27,015 27,355

C. Slho In Total tet 19 prices)

AsHwalure, 7.1 6. A 7.2 6.6 6.6 7.0 63MInlde 7.0 4.6 2.9 .9 2.2 2.1 2.2 1.9Nd lmsftnl 22.0 19,6 15A 15.1 14.9 19.1 19.3 19A

er-y 14 1S3 U.3 13.5 14.4 10.0 6.3 8.T r fwr atan 23.9 252 24.1 19.? 19A- 22.4 2.3 236Tusa tJ13 2.2 2.6 32 4.0 3.9 3.9 3.4leasIng 12.8 15.2 2W.3 26.3 2.2 23.8 21.2 21.366asa*tlmn 2.L4 2. 2.T 2.9 3.G 3.3 3.4 3.9Nestth 0.6 0.9 1.1 1.1 1.3 1.? 1.9 2.1Other ServIces 8.0 9.7 9.6 6.1 6.7 7.1 3.5 9.A

D. Annu l Poecent CU'eU (M" 19(3 prIces)

A4rfeult.r (11.5) 0.9 24.0 (T7) (6.3) 10.9 6.0 (9.86nint 3J M2A.9) C(J5.3) (.) (24.0) 1.1 1.7 (9.9)

xfwtetwuin 4 6. (0.0) (U.2) (.S5 (.6) 55.1 0.7 1.5Energy 6. 16.1 (.?) 0.1 5.6 (21.2) (17.6) 5iTunapoutftmn 30.9 3.0 6T7 (19.0) (2.8) 30.8 6L5 (1.7Tour1 7j 90.6 21.4 23.5 2a 11.0 (0.) (12.)fteint 16.2 31.8 9.5 3.2 6.0 (4.2) (11.2) 1.5Udiutimn 4SJ. 7. 24.5 3. 4.a 22.3 2.6 17.Uatth 16. 21.83 24.6 (1.) 24. 43.4 10.4 15.9Othe Srfies 43.7 34.0 3.? (1.4) (17.9) 19.9 16.4 13.1

Total 1.9 10.9 *.0 (1.3) (1s.0) 13. c0.4) 14

I. ef btes (Chain Ircdas

ftrlltws 14.0 1A.O U.O 2 170.9 "1i2. 152.3 1433 1e."Inite 1.J 152.1 155.2 177.3 159.6 151.4 1.9 173.9nuu twing 145.2 151.9 17.4 175. 154.7 U1.S 1S6 1U2twiurg 152.4 154.3 162 15.0 10.9 1UL 1453 14ATreuptatfin U1.3 1A. 147.1 175.7 159.2 14.6 160.5 161.JTurt" 143.2 9.5 143.3 172. 142.0 150.6 157.5 156.9smoing U14.1 139.2 145.7 166. 159.5 156. 16.2 15.2lalectlon 142.7 139.5 1 173.7 162.6 1492 5.7 155.1bed th 143.7 142.0 144.2 146.2 156.9 150.6 1t1.1 164.4Other Sevo 141J 139.7 141.0 176.3 164.5 144.6 150.6 146.9

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Table 7. Tw*kwo hy iAlie IMid tapit hwesomws by etws 196592

195 19S6 197 19 199 1990 191 atI

A. At Cuwrrt Price (btllion IL)

Arieuture 226 356 64 1,046 1,78 2.461 $,2 7.40KIning Su1 350 304 510 "a0 96 1,3 2,607Nfcturl 409 n 46 476 6 I4 2,39 4,192

6flStW 711 1,26? 1,716 3.,00 so ,1"' 7,990 14,711Twup@tution "T 1.3 2,34 3,3 S.220 9,4 17,393 26,4TourIsm 29 97 124 176 191 341 T" .

an 10 116 20 5 3e 1,10? 96 1,774amatin 13 no 356 6t9 1,0I 1,944 3,09 .,7

861tth 39 6 116 2 373 7m4 1.196 2,7Othr ervIs 376 742 1,073 1,512 1,671 3,354 6,320 10.6

Tota 3,23 S,23 7,40 11,451 17,355 27 47,028 7?T713

S. At 19 Pries (billion IL)

Agriculture -35 Of 1,087 1,046 1,112 1,054 1,269 i,048Kining 1,38 93 549 510 341 366 393 353Nmbfactwil. 1.911 1'29 912 678 491 519 621 64Ergy 3,022 3.44, 3,147 3,060 3,211 2,0 2,005 2,if1

Tr Ionrt 3,54 4,022 4,0 3,403 3,280 3,ff2 4,401 4,026To r" 99 239 214 16 116 140 184 175Naog m29 261 197 20 201 443 2U3 261-amtlmn 471 497 616 69 65 62 612 977Setth 3 15 '95 203 23 32 314 SOther svices 1.1 1.W3 19,"2 1,512 1,142 1,411 1,764 2,040

Total 12,63 13,85 13,27 11,431 10,789 11,50 11,96 12,116

C. Shres ln Totl (at 198 priesn)

Agrcultue 5.9 6.2 6.2 9.1 10.3 9.1 10.4 6.6XIning 10.5 7.1 4.1 4.* 3.2 3.3 3.3 2.9Nouacturing 14.6 11.0 6.9 5.9 4.6 4.3 5.2 5iEnerw 2sA 2.9 23.7 269 29. 21.? 16.7 18.1

TIrt on 2.4 29.0 33.5 29.? 30.4 34.3 36.7 3.2Tou"ris 0.8 1.7 1.6 1.5 1.1 1.2 1.5 1.4sowing 2.2 1.9 1.5 It 1.9 3.6 2.0 2.2Idiitlon 3.7 3.6 4.7 5.6 6.1 6.9 6.6 8.11.tb1 1.0 1.1 1.5 1.8 2.2 2.5 2.6 3.3cther Sevices 10.2 U1 14.4 13.2 10.6 12.2 14.? 68

D. AbwL Pernt Chw. (t 198i prie)

A clttre (6.2) 1. 2.7 (3.8) 6 (5.2) 18.5 (16.1)Xining 32.0 (27.6) (46.2) (7.0) (33.2) 12.6 2.3 010.2)Ndef tuaring 73 (20.0) (40.4) (25j) (V.5) 5A 19.7 S.Energy 9.1 14.1 (6.?) (2.1) 4.2 (21.9) C20.0) 9.6Tartafan 42 13.8 1.4 (23.4) (3.6) 20.4 11.1 (8.6)TOi;sm 2.1 M141 (10.5) (17.6) (J) 18.9 31.4 (4.9)Nauing 2.0 (9.4) (24.6) 3.8 (1.9) 120.9 (45.1) 7Agdction 43.2 5.6 26.3 3.3 2.a 22.1 1.2 20.38t6.1 (1.2) 15.1 26.6 4.2 16.9 36.1 (4.3) 26.4Other Sevices 56.2 41.0 24 (20.9) (24.5) 23.6 2S.0 15.

Totl 23.1 7.5 (4.2) (1.7) (5.6) 7.1 3.3 1.1

E. slo (Cha00f f,

gricultue 141.4 19. 144. 14.2 160.9 156.9 16.0 163.4Mining 149.3 152.1 155.5 180.4 161.4 15.0 171.4 174.5Nurwfacturing 1534 157.1 158.1 181.2 160.6 1S0. 159.5 166.9Energy 152.8 156.2 148.4 10.4 161.3 148.6 166.3 1660Tfnportutin 143.1 1485 149.7 175.2 159.2 150. 16.9 164.4Toris 143.2 139.5 143.3 172.3 162.0 150.3 156.2 157.0ltsIng 145.1 139.2 145.? 16.4 159.5 156.r 164.0 166.8Amation 142.7 139.5 142.4 175.? 162.6 19.1 155.9 1.0

llith 143.7 142.1 14.2 6U2 156.9 150. 161.4 164Jother Sel s 1414 19.7 141.0 172 166. 144 150.6 148.9

$01oves SPC

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A. Iran

St food. beveate ad tdkass as SNJ 104.7 124. 6 5. 649 103.5 139.5 103. 90.6 10e. 11.9 100.1 101.5 117.1 ,12L532 otttle, reer 1d tllhw 973 95.7 97. 109.1 105. 105.61 102.1 1205 115.0 110.0 101.1 1t.t 106.1 10.0 117. 19335 loetey mid furnIture 93. 97,1 "5. 113.0 "5t6 102.19 95T Me3. 10?.? M01. 93. 103.1 97.3 9T.6 1WA. 119D34 Paper perw prime printiuw 93.5 99.5 106.8 108.7 104? 109.? f17.5 1in.? 181.5 111.1 105. 80.3 I03.5 fo7.0 1.2 1WA.

.. m .. t , c . t. _e _..and petlc 66.6 94.7 109.2 1I 102.8 106.9 115.5 133.2 117.5 112.0 120.9 122.? IIL 113. 122.2 120.5

36 Usetmst.tic minuet proiActs 02.0 101.5 107.9 100.4 87.5 117.4 125.8 121.1 107.? 124.8 127. 119.2 110. 1313 134. 125.637 Seal M1etal 94.3 100.7 101.1 103.7 105.7 113.7 100.9 120.2 115.6 113.1 10t.1 113.1 110. 106.6 106.2 130.4so I.utt ost.usiey tr

vehicles, and toteawfurng t e 94.7 98.6 ff.8 12.7 9.6 108.4 9.5 136.4 110.3 105.9 63.7 10.7 5.1 93.6 9o.3 126.59 Othbrs W9.5 92.6 69.6 117.9 94.6 8.3 61.6 161.4 102.6 91.0 64.9 0.7 4.S 159.0 1o2.6 110.8

3 I.tt Rnufasturliw In&mb 0.1 94.5 102.1 113.2 97.8 105.2 1009. 131.2 112.7 108.0 108. 1T.9 106.6 10r.4 117.0 125.8

bnt Average 1010.0 1`10.7 111.6 114.3

S1. Percui d muws fr thesso# rterof the preVm veew

31 Ue4d,, bevragss ad seao 6.9 0.0 1.? -0.7 1.5 2.7 f1.1 11.6 19.6 6.9 5.4 -6.9 .2.5 1 11.6 16. 2.0M Textile# ree*ues ard teethe 20.5 13.9 14.9 6.6 7.7 10.6 4.8 10.4 9.4 4.0 -1.0 -4.0 -4.4 6.4 15.9 11.533 Sorestry ard frniture 30.6 20.9 11.5 -2.7 1.0 6.0 0.7 8.2 12.4 .1.3 -2.3 -16.2 .9.7 -3.9 7.0 ISA434 0 2.1 17.2 11.6 1.0 12.0 11.3 12.8 20A. 16.0 4.7 4.9 15.1 14-.8 -7.7 1.2 45.7

.5 .ilse i,cs.r~r

dl pstc 11.1 5.3 102.9 1s.2 a 8 .2 16.4 13s. 562.0 14.3 2.6 4.7 7.9 1.0 1.3 1.1 -1.636 Uh.eatcmnae rass 2.0 1". 13.9 li6.7 6.7 15.J 16.6 11.7 5.1 6.3 lo7 -1.6 8.2 5.4 5.4 5.537 Bai ... 24.9 29.3 26.7 -1.1 12.1 12.9 7.T 15. 9.4 -0.5 4A4 -4. -4.4 -S.? 8.0 V'.IS It.t pveusts ilmry. mter

vn alet. md ,amua wi.es 19.9 16.1 5.9 5.3 -1.2 9.9 1J 13.0 11.6 -2.3 .12.4 -23.2 -22.6 1a1 12. 21.139 Others -4.9 -4.6 -6.9 53.9 8.5 3.1 3.6 -50.6 40.8 74.? 9.6 6.7

3 Total Uu fetauiug lary 1.9 11.4 U1.0 . 6.5 6. 15.9 15.2 27 0.2 -0.1 -5.2 -4.6 7.6 6.7

burnt Average 11.0 10.7 1.0 2.2

X II e i ct22. n. 1s9 1|t ST 1.T *.*lt. 2s1 *X l.T -1. 2. %. 5. S.

A. Iedm

31 Fed tanr mid ttdus. 109.0 116.6 1253 144.4 113.5 1153 155.4 1536 11U8. 117.1 146.132 *xt 1t, ilrndi4" aid lstwer 116.6 11J 10 176 101.4 100.5 101.9 114J3 107.5 100.9 107.933 FeKretry and funitur 122.8 1174 117.3 128.3 110.4 102.4 114.0 129.2 113.1 112.2 124.834 Paper. p2per pests u0d prini 1 2 2 139.6 1138 107.1 119.7 13. 121.7 120.9 137.235 tb mieea, s e l rbbrd plastic 120.7 107.4 135.2 127.3 17.6 113.2 128.8 125.8 119. 120.S 1335s36 Nm-artaUlc mineral prodaut 115.9 27.7 141.6 156.3 116.5 126.7 160.0 142.2 130.2 t16.0 16e.7

37 sale Natals 132.7 12.1 129.6 140.4 101.0 1270 126.A 129.1 115.2 119.6 139.238 NwMt proedts, mchinrvy, mtoeveMles, Ord maewins deIes 117.2 135.0 119.4 155.6 111.7 14U.S 149.4 180.7 156.9 146.7 m.039 teres 102.7 241.4 210.1 220.2 143.2 119.9 203.4 194.2 177.8 174.6 215.8

3 total Nhwaceturins IndAtry 118.2 117.7 127.2 137.1 11.1 120.0 135.4 14.6 121.5 125.3 139.2

Almi Averop 1a5.1 12.4

so VW t dGo sle from ie mqarter of tbr prfeiw r

31 Fed. 'ha vmem and tubcco L.5 14.9 -4.0 9.0 4.4 1.5 244 6.4 4.0 -1.0 -4.632 fasti*0 re e andW tether .5 L.i -5.6 -1.1 -10.5 -9.r -3.3 -10.4 5.0 0.4 0.933 forestry end furnitur 26.2 20.5 17.3 7.8 -10.1 -12.9 -2.6 0.? 2.4 9.6 9.534 Paper, paper predict mid printing 1.2 3.5 14.7 19.3 -2.9 -11.6 -2.7 -6.1 6.9 12.9 14.635 Chemls oll, e l, eru

and pastie 1.7 -A5.4 10.6 5.6 -3.1 5.4 -4.7 1.2 1.8 6.4 3.636 umintst1e mine predict 5.3 -2.9 5.0 0.3 0.5 -0.6 13.0 4.3 11.6 30.2 5.43? 0 le Ntal. 20.1 19.2 220 7.7 -20.1 -0.1 -23 48.0 0.7 .5.8 10.08 Naa predcts. minryster

wehtcles, mwd eieurin decvies 3r.7 43.9 26.6 22. -4*.7 10.0 25.1 16.1 40.5 0.1 3.739 Othe 2-.4 51.6 29.1 29.4 -21.6 -S0.3 -3.2 -11. 24.2 45.6 20.8

3 Totlt Nmucturing Lctry 10.7 9.6 6.7 9.0 -4.3 2.0 64 2.8 10.1 4. 2.6

MootI A-ng 9.5 1.9

_Ows s3

bt e 10. Tw&sw Priwete Wufst xr Setor Predation ted.

19 194 19 16 *........ SO ................... ......... . 1969 ...........cm acit=u tw. IV. IV. IV. I. it. il. IV. 1. It. Itt. IV. . It. lio. IV.

A. 1edsm31 food-lSeereeTpebsec 110. 117.4 116.2 133.2 123.5 116.2 142.9 153.0 141.0 120.2 156.6 140.2 144.5 132.6 117.4 149.232 lait3les-C1.thlnuLesth 95.3 135.0 156.1 166.6 13.6 173.1 159.2 192.1 179.6 194.6 19.9 162.5 154.3 113.9 171.7 190.733 forectry Prod. 106.6 123.3 110.6 10B.0 152.3 95.1 116.2 110.? 149.7 66.9 117.7 92.? 129.2 67.9 121.6 102.034 PIpeg Prlntin 110.5 126.9 137.6 149.0 I0.0 132.5 5.9 147.2 144.2 127.7 1776 127.0 126.6 120.8 62.2 139.135 chemIcal 120.7 13.4 141.0 137.4 116.1 137.5 102.0 151.7 129.1 140.4 96.1 149.1 121.4 149.0 104.1 166.936 5oil Pro. 77.5 85.2 7.7 104.4 1.6 134.4 193.6 125.1 95.9 142.1 202.1 122.3 160.7 150.2 209.6 129.837 s etal 143.0 159.3 187.3 209.3 224.4 226.9 243.1 232.9 226.2 22.6 210.3 2M8.7 216.1 266L5 250.9 226.336 Nbtal Prod.-Nuhnfery 17.6 175.7 194.9 204.5 176.1 159.6 136.9 235.4 212.1 156.3 120.2 104.1 151.7 136.0 126.0 209.939 Others 140.0 140.3 170.0 123.5 4.7 15.6 64.5 140.4 51.0 100.4 61.1 113.2 46.0 136.3 71.7 136.9

Totel 123.0 136.7 1S1.4 159.8 144.9 154.7 139.3 160.9 1663 157.2 131.5 161.0 145.2 157.2 112.5 176.8

knot AlWeg 106.1 121.0 128.2 12.3 154.9 1S4.S 155.4

3. Percent chow froem t saqrt of the i vow

31 Food-IeweraogTebocoo 3.5 6.1 .1.0 14A6 11.6 1.0 23.0 14.9 14.2 3.4 11.1 -.4 2.5 10.3 11.7 6.432 tustIles-tI.tl,-imsethoe 14.2 6.S 15.7 6.7 44.5 26N3 2.0 15.3 30.5 12.4 0.4 -5.0 -14.2 -5.5 7.4 4.533 Forestry Prod. -6.4 15.4 -10.3 -2.2 42.S -22.6 6.9 2.5 -1*.7 -8. -0.4 -16.3 -n.r 1.2 3.5 10.034 Paper Pr5ntbw 5.4 16.6 6.9 6.1 13.1 2.6 -3V.7 -1.2 15.3 -3.6 -9.6 -13.7 .12.2 -5.4 5.9 9.S35 Cue lcal 3.9 10.5 s.7 -2Z. -3.6 3.1 -27.6 10.4 11.2 2.1 -3.9 -1.7 -6.0 6.7 6.1 13.336 Soft Pred. -18.6 O9. 2.9 19.0 4.9 StA 121.0 19.6 1.6 5.7 4.3 -2.2 5.0 5.7 3.7 6.13 I.etat 0.2 11.4 1T.6 11.7 56.9 42A4 29.6 11.3 0.6 -1.9 -3.5 -6.1 -3.6 20.6 19.3 4.438 lItat Prod.4lomhlerr 33.4 27.5 10.9 5.0 27V -9.1 -29.7 15.1 20.4 -2.2 -12.2 -21.6 -26.S 13.0 S.S 14.039 Other 24.3 0.2 21.2 -27. -69.5 24.5 -62.1 1.7 19.5 -5.1 -5.3 -19.4 9.6 35.8 17.3 22.7

Total 9.3 12.7 9.1 5.6 17.7 1. -6.o 10.2 16.2 16 -5.6 -11.0 -13.r 0.0 6.4 9.S

iuwsl Averse 7.9 12.0 6.0 11.0 6.9 -0.3 0.NRue. 0Pyf.o.) rUt* S.? 10".3 5.5 9.7 9.8 1.8 3.2

.mt .i

W* 10. T~ bntifUd

* *......... 1m99 *...*.... **-..a... 1991 .1.. I9-= OFC 1. 1 1. it. Ill. tv. 1. I1. tit. IV. 1. It.

A. t_~31 F.ud4ewrq.Tdom 151.4 3.4 14.2 5.0 1.5 15.3 1.0 1.5 11.2 149.232 Tentile dthfro-Low WA "1.5 A.4 17.? 1554 W4 1.2 14.9 12.4 6433 tow o 14P.0 96.1 118.1 98.5 10.0 83.0 107.9 99.8 105.8 76.134 vowu PriM1f, 133.9 1#5.0 S873 156.8 111.9 11.6 J1.9 141.9 116.6 131.83 .lel 12.? 138.3 11. 148.5 116 5.3 10.6 155.5 .7 1.S36 solft Prod. 97.2 154.0 218.4 126.2 95.7 136.8 MA9.4 141*3 .3 1.1sr *t 24S.8 2A0 .0 73.3 1.1 2. 2.2 86.5 218.6 MAso (t.t Prod..FMtlmvy 202.? 181.7 161.2 260.8 M1.9 1.8 t4.3 29.2 2.1 .o39 Otau 47.1 120.2 75.9 143.9 37.2 99.6 82.4 121.9 4t.? 114.8

i.t.t 167.4 169.1 152.0 186.3 13.5 172.7 O.7 191.7 1A. 178.9_umI Ali o 1lt 1W9.?

8. hru _uw fru Ie_qnfte *f tfs prvou, VWa

31 Fod r_t S.5 3.6 -5.2 1.9 0.9 1.5 11.2 1.0 4.8 10.332 7tatothlu almr 7.5 3.6 .1.9 -8. 4.3 *-11 -2.5 -S.3 4.5 4433 foto" Prod 13.0 9.3 .3.0 -3.4 32.9 -.16 -8.6 13 110 -8.334 Pu Prlntkl 5.8 3.5 6.2 12.8 -16. -9.1 -6. 4.5 4.4 16.035 umIest. 9. -t.77 2.2 -12.1 -12.9 2.3 2.0 4.? IL? 0.836 vlt MoC *3.5 2.5 4.2 -2.7 -3.6 -11.2 9.6 2.0 1.7 2.437 I.t. 12.? -1.3 6.3 1.T -19.8 2.3 -1.3 -10.9 10.9 4.7so ftal Pro...dnry 33.6 3.6 27.1 24.3 *0. 7.2 14.3 10.9 39.? O.39 Othl 2.4 11.8 5.9 3.6 -21.0 -19.6 6 -15J 12.2 18.8Total 153 7.6 6.7 S. -5. 2.1 5.7 2.9 17.5 3.6kIam ka 8.1 0.6*WAu. SNf...) GroW 10.0 3.0

S_worn IetA Cha.g of in_tuy

1id" II. T~sy PPNWit IWOte CapInty UtIlintim

31 fomd.3evwftq.T*ase 74.5 75.4 74.5 72.8 74.4 77.8 73.5 72.4 0.1 69.7 74.4 9.8 75.7 72.8 80.6 79.732 'Tattiles-C.thlng-Luths 76.6 77.9 79.1 78.9 19.6 8W6 6A 80.6 U. . 1.7 61.9 80.7 80.7 80.8 so.? 82.33 foustrv Prd. 59. 45.0 71.5 45.7 61.8 74.4 73.7 71.4 S8. 81.9 72.3 46. 46.7 70.8 09.6 79.034 aprPitoog 74.1 73.8 79.9 78.5 79.6 79.7 U5.S 64.7 87.1 81.9 78.6 7.3 80.7 77. 77. 79.435 6s1at 9.9 nA. 4.3 69.9 75.1 15.3 79.0 74. 77. M4A 73.3 75.9 74.9 76.5 75.4 79.736 %Ui Frod. 75.0 78.7 80.9 83.0 78.0 81.8 87.0 83. 3 ~7 87.1 76.7 81.2 96.2 64.4 81.3 83.5sr Natal 72.2 72.8 75.8 70.1 74.1 48.0 49.6 75.2 80.1 72.1 67.1 75.9 75.0 T1.6 74.4 75.A38 Newta Prod..Iushins 69.9 70.3 09.9 48.3 70.6 69.0 72.5 74.1 75.6 48.3 61.2 aJ3.5 46.84.8 48.9 66.239 Other 65.5 4686.4 44 .3 72.5 74.1 44.2 47.1 59. 64. 61.7 61.0 67.1 48.4 48.2 65.6

Total 72.0 75.7 73.4 71.9 74.0 75. 76.3 76.6 177. 74.4 72. 75.5 74.7 74.8 74.9 77.2

Caftiowd~~~~~~~~~~~~~~~~~~~~~~~~~cnim

am DC n a.1 Mi Ill. IV. to It, Mi. IV. I. It. 196 198 198 1989190o 99

31 Poderg.*us 76.5 75.9 74.3 78.1 78.1 48.9 76.1 67.6 80.3 75.7 73.8 74.5 48.3 77.3 74.2 69.232 tettsCohiwLsh 2.9 82.1 79.6 84.7 71.9 76.9 78.6 78.1 82.5 79.3 78.2 81.5 82.0 81.2 MA. 76.435 Prwestr Prad. 76.7 83.0 70.7 79.6 59. 64.1 67.1 63.0 68.2 70.8 64. 70.3 77.1 71.5 78.0 43.434 Pwper Printin 83.7 80.8 48.6 86.2 87.2 83.8 86.5 82.9 86J. 81.0 76.6 82.3 80.7 76.7 719. 815.135 aaod.al.s M7. 77.8 75.8 76.3 46.8 70.5 48. 81. 75.8 71.1 70.9 75.6 75.1 76.6 76.9 71.936 f.11 Prod. 82.2 79.9 85.0 86.1 79.2 74.7 89.2 87.0 81. 64.4 79.4 82. 82.7 83.4 83.3 82.537 Ntatl 76.0 44.3 70.8 72.6 4G.8 72.0 67.6 70.9 80.0 76.4 72.7 70.7 75.8 74.2 70.9 69.138 Nata Prod..Nhdslmy 69.3 74.7 69.5 71.6 76.1 44. 45.2 48.7 46.1 48.6 69.6 71.6 .7 67.4 71.3 67.239 Othes 48.7 67. 64.2 42.3 39.4 51.7 72.0 56.2 61.6 67. 45.3 09.5 61.7 67.3 45.8 54.8

Touta 76. 74.7 74.1 76.3 69.7 70.5 71.4 75.1 75.5 73.2 72.8 MI. 74.4 75.4 75.4 71.7

ftwools tatu" Chmw of i9fIStV

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69" do 68 t itt mW St9as ma mtt smu ssou so SOdW

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Ao's St'l 919'3 81S'3 "l'4 sues OJr14DJS

0m.i U 5i5A53 50 WRNIqIJ3UI 1S3U

0' re rs rV Ae &I 6 cza w of m Ono" owl ispi1191 59& mot S9o im6 01ul mdaI jsopn lawoMottS UL181 1W39 h4 A6L1 ns9s1 911'9 P1q PI>P UMA53Woav me" mo sin me"a 36t tn LAd* Mon tWsgA

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9'5 79 9't1 l'53 £9 W 1 m )umus"~~~~~~~r il ra 9U1"NS

tS9 9S6 $u 99 5*L Sa 759 s

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.^__"~~~~~~~~~~~~~~~~~~~a .1 _N .6n , __I _ _I __.. _

IUSI'LW|it '24361)

Table 15. Tnn*er Coaotlited Central GI rr&Mt maet

1991 1992 1993199 1990 Estmate Estimte target

UWJPJES 30,379 S5,239 96.746 171.241 344.400Sral et 29.939 54,576 95.799 170,241 342,400Tax avaw_s 25.SS0 45.400 78, 141.041 243.0Uantaz Raevws 2,438 4,267 3,926 8S.00 26,100Specal Raema and ftxm 1.90 4.90 13,230 20.700 72,700

6rat 115 1,36 8,43 2,200 900Tranfers from BFs 1,636 3,24 4,796 16.so0 71,800

AMe dget t 440 46 947 1,000 2,000

EXPEDIInaES 3.,051 67,193 130,263 22*,428 59T,710current 16,607 33,386 60,403 111.500 180,000Personl 12,S39 26,465 49,291 91,500 145,000Othar Currat 4,068 6.915 t1,112 20,000 3S.000

Iwastmnt S,067 8.902 17,146 29,769 47,000lransfers 16,378 24.911 S2,714 86,tS9 170.710of tAtchInterst Paments 8,260 13.69 24,073 46,329 n.000Oostic 5.115 9.613 16.941 33.829 53000ogn 3*,14 4, 7,132 12,500 20,000SU1 Truufers 1,214 1,252 12,191 9,440 20,000

PSOET BALANOt (7,673) (1,955) (33,51?) 06.16?) (53.310)Deferred and Advance pavynts - net (639) (400) 90CAIS MALACE (8,312) (12,355) (33,42) 0(56,187) (53,310)

FEPACIWG 8,312 12,35S 33,4#6 S6,16 53,310Foreion Borrowing (net) (209) 41 1,921 S230 1,310eelpta fro loans 3.588 S.489 10,8J9 19.84 22,366P0)mnta an Loans (3,797) (S,448) (8,968) (14.431) (21,056)

D mstic torroung (net) 7.434 10.205 25,7 43,616 S2,000edium a*d Lung tea S.982 7,942 2,279 13,606 49,000Receipts 8.983 12,S23 11,510 33.782 ff.000Payents (3,001) (4,S81) (9,231) (20.176) 46.000

Sbort-ter (not) 995 1,932 12,7B 12.419 (24.000)Central sak Admanies (net) 457 331 10,719 1T7591 27.000

other t086 2,109 5,718 7.340 0

NM Itemadgebt deft exctudig gant. (7W) (13,59) (41,951) (8,37) (5,210)6. 170,412 287,254 453 207 m,319 ,22,821s beflator 6.3 S4.4 SF3 42.1 S1.0

Sourem: U0

TAle 16. Twtey: Dombstfe Treay Serroetd(Iin-92, In b1ilens of Turkish Itre)

-^-------*---------*-----*-----1 2 ---------------- ^------------------------1968 1969 1990 1991 Jan. Feb. Nwd. It. NW Juw Jly A. SeG. Oct. Om.

Debt PS)1 %d wing the perlod 1,6 2,251 4,433 13228 16,18 14,410 16,S48 16,3 11,759 6,048 1562 14,856 25,903 20.13 29,350Principsl 1,251 1,73 22 0,773 13,M 11,82 13.761 13,41 970 6.614 13.866 13.277 20.159 17.323 25,761Sends 173 15? 482 24? 1,991 1.31 2,046 940 698 23 623 592 98 1.319 2,421Silts 341 536 505 3.800 3,034 4.97 3.0" 3.14" 11 1.976 2,939 3,605 7.912 5,293 7,119Consoltdmtfem 0 0 544 0 508 350 5,000 2,190 309 367 308 0 350 306 886Central r* aWIm 6W9 1,042 1,252 6,?Z S,219 S,180 3,638 7,201 6,U22 3,998 9,99T 8.681 10,914 10,406 15,335lntertt 37? 517 t,6f1 2,456 3,006 2,538 2,77 3.229 2,059 1,435 1,616 1,57 3,r44 2,815 3S.905endW 2W 366 598 1.692 1,S7 1.006 1,S50 2,189 933 350 s55 So 905 8S5 1.825Sfils 1tt 106 f 764 1,0S 1,42? 72 M58 642 6f4 9f5 1,04 2,5 1,506 1.69Casolidetfmn 0 0 927 0 196 105 554 10S 484 lb 65 0 105 92 1o5CentrslMA e dvene 0 26 31 0 183 0 0 7 0 290 0 0 0 291 0

Cross Sorren wliu dbs pw. 2,n0 10,250 ,776 19322 4S,169 `14.75 20,174 18,06 12.5 9,646 17,211 18.S7S 29,193 25,76S 21,726Sands 1.099 4 1.714 1.S40 31,311 4.094 SS4 14SSS06 2.940 969 2,252 4,56 S,89 7,474 1,37Sills 440 326 1.030 S,315 S,73 2,041 2,247 3,224 2,739 3,46 7,044 6.61 10.SS6 6,8 9,66Ceostl4dtle 0 8,000 3.500 3.000 305 350 0 0 309 367 306 0 350 306 350Central Put advnce 1.012 1.45 1.491 9,40 7.020 o .,2n 10,34 10.335 6908 4*904 7.60?.12 12.478 11,099 16,934Set borreudtn dwe lb. period 1,540 5.0479 6,055 8549 6.850 2,0K 6.414 4.590 3,196 4.198 37m 5,296 9,035 ,"444 2.96oends 906 30W 1,272 1,293 1,140 2,723 5,50 3,56 2,242 1,62 2,056 3,90 4,6 ,SS (664)Sfils 299 (20) 525 1,575 2,700 2.930) (830) 80 68 1.430 4,106 307 2I.44 1595 2,567Consolidetien 0 4,f3 4,810 3,0 3,410 0 (5,000) (2,IN) 0 0 0 0 0 0 (53)Centrtl __a advne 3.5 47 240 2,681 (399) 3,092 6,736 3,134 a 906 (2,391) (1,69) 1,564 694 199Debt stock at n of pweid 2,2 42,16 s7,469 90,49 96,89 9,765 106,179 110,769 113,965 8.J 121.934 27,232 1M.267 1A.711 147.676Sends i9.416 10.940 19.091 24,697 25.818 28.542 34,05 37.616 39,88 41.79 43.M 47,74 S2.572 s8,n7 58,06Slills 3.48 3.53 5,469 16,258 20,958 18,02 17,197 17,278 18,14S 19,5?6 23,681 26,708 29.352 30,948 33.515Centoolldtion 12,260 2S.000 30,048 33.504 36.914 36,914 31,914 29,2 29,124 29,124 29,124 29,724 29.724 29g724 29.13Central Bait s* nime 2,082 2,539 2,870 13,589 %1,90 16.232 23,018 26.1S2 26,238 27,143 24,M13 23,055 24,619 25,312 26,911

$urew Tsurry mnthty Indlostms

Table 17. Turkey Int t 1 etas an Sovem* S end *1d Tramcwy Wi Aetlim. 19- 92)

.......- -.----- 190 --.--.-.-.- * o ............... ..................... ...... ...... .........Juty Aug. Sept. Oct. 5ev. Oe. an. ft. rl WprIlt Ny JAm Juty Aug. Sep. Oct. NW. DUe.

A. intest Rat" auTrearwy Sit to

amnw .. .. . .. .. .. .. .. .. .. .. .. .. 70.2 60.1 47.0S-mnts 71.3 57.9 48.6 61.3 72.5 67.1 8.4 8.8 52.5 45.1 54.5 5.1 40.4 69.6 0.4 SO1 483 47. r46aaonths 63.1 54.8 55.8 55.5 71.9 69.0 68.1 68.5 59.0 45.2 46.9 62.1 68.0 73.1 61.9 53.8 46.? 49.49mmths 62.0 60.1 60.1 S8. 72.5 71.4 68.2 68.1 56.3 S0.6 59.4 62.0 61. 67.6 d8.8 55.4 49.0 S2.Ocweant lands

12-onths; 61.1 59.6 58.8 58.4 70.8 67.6 47.5 6.3 53.9 S0.6 S4.6 S9.0 59.9 65.9 65.6 5.4 51.7 50.8-months 59.6 57.0 55. 5S5.6 64.6 63.2 .. .. .. .. .. .. .. .. ..24-mnths 60.2 S6.0 S4.6 54.r .. .. .. .. .. .. .. .. ..36-monh 60.0 .. 53.5 .. s .1 .. .. .. .. .. .. .. .. .. .. .. ..36mniths .. .. .. .. Vrltarlbte .. .. .. .. .. .. .. .. .. .. .. ..b..

R. _uimt (IL biltion)trewry Rlls

3-months 131 196 73 1 34S 176 322 1S& 170 1S6 50 148 200 "4 M5 152 162 t506-monts M201 38 149 153 211 135 230 150 fO 150 200 171 224 247 64 33U 217 539-*m 173 74 193 95 67 1T? 300 27 2* 200 200 20 1S0 250 502 51 268 205

6Ownmnnt land1-months 124 2 217 367 313 n W 316 24 341 285 219 264 S9 6541 M W67 58724-Mns 20 30 100 Si .. .. .. .. . . . .. .. 4. .. .. ..36-s fth6 .. 10 .. 48 .. .. 4. .. .. .. .. .. .. .. .. ..36-mn t/sil .. .. .. .. l17 78 .. .. .. .. .. *449-mth .. .. .. 150 4 12 9 15 .. .. .. .. .. .. .. ..

contreud

. ....... . ............ . ... IMJK4 16. P" NOY JWW JAY AIW top. ftt. OlW. *W. im rob Rank W. OBW Aro Abuty he. 016 ftt. *W.

IfOWAY MUSI-MI483-Mol" ".5 47.4 4T.S6 4Tf 4?.* 4?.6 04 W.; ".3 VA` dO.'T' ".3 r4j, W.'o, W.'i ".1 " OL't' 03 WI %3 %'.#' IL's6-00" UJ 47.7 49.U OJ UJ $1.3 9.1 P.? MJ WO ff.? 42.T 0.7 32.0 Yt-4 00.2 ONJ W.? MO IS-4 V-Y 86.0 ".S StJ9 mom $OA WO 49*96 $OA SOA SCA %II 51.2 SSA WI 04 $7.8 66.7 73.2 X.7 7U U.# 1W.5 #T-S 104 30.8 mi wA

U-Noft SCA SU S6.41 lG.S SSJ "A N.S 90.6 9.3 $1.7 90.9 0.1 dSA 40.7 MO 15.1 40.0 61.0 IOA Mt 17.0 73.010-sm"26-mome36-OWAM364MOS V404mwft

46 ftwAt tn tdittigo

110"l0l lu "I 10 A A ta S'e, 4a A so"' M' O'n' ire W is M "I 6" SY4 M I'm alsit tlm IIAM6 ni 2is ist "o m m 4a m no so m "T t" so M M I*m M I'd to M I&M tsow low0 -dbs dn 254 is W M NO 234 M 300 343 3% M M $St I.M $ft M 46 of D4 du M I.M

awwrom 9=6U-Mobe M 473 353 30 310 30 M as M in S" M M 1.478 M Im 4n 40 Mt tW tM SAN

36-=WAs36-awAft V

tWl 17. tur%lks Co*l*|

.~~~~~~~....... .M ...... ..........

.1M. hE>. ftbsk Wit VA Ams MYl AU-. W. ft. V. On.

A. lnotftti.01

3- "~~~~0.9 S&J 4.0 SOJ 93. 98.4 M.6 Sg. 9.9 97.9 98.i 96 56_MO SS.4 8.t 3. 83.3 8.4 9.3 tJ91.6 MSg SPA $.4 0.4 t9.9-at r6.9 76.6 76.6 78.3 $0.2 #2.7 12.8 81.6 U1.2 U1.1 81.1 J".S

12-md 7t.9 M1S 71.5 n2.5 n4.4 nA 75.2 n7.6 7n.2 ns3 n.6 17i-wd *. .. . .. * .. . .. * * - -

B. _*m M bti1*

1 _mnl .. .. so .. . . .0 .. so .. .. .3-ne 2,2Jt 4|2 32t 1,102 106 2,90 6,002 5,600 A,ow ,22s 11,09 12,U92

6-wndo 2,tSO leaS t,13 aX2 t1,7 r7B tuX0 l"01 5,U" tU 6s 1,79sendl 3,Ws rsr 1,734 7r 1,249 S25 1,U" ,012 3S 3$ S36 1.30

12mob S,m7 4,516 4,67n 3,io 2.09 ,ff9 3.$ 3,47 4.662 3.16 2.961 6.0911.. .. . . . . .n.t. .. .. .24 - *- * * - . *t. . . * *36. . .. .. . . . . . : .. .

It oult Of ewtlf

tale 10. Twrty: P it a Les Aceate of NU(Excludis US wii Privstfgtlen sdmm) to-93

tw t1987 198 1989 1990 19 t E " Tat

Solte of Sgodi tu Service "INS 2740 47,212 76.931 719.35 43l3 216.711Ot0e Ise toewm 48 546 787 49 1260 1,991 1549Uuups_ting Reveu 93 1296 2,313 3.45 468 6.05 5.070

totl Cuent RlVeWs 18,339 "25 50,12 80."9 3.2U3 151,67 223,330

Cot of Goo.ds ad Seve Sold 11,435 16,M 30,949 5002? 53,2m 102,430 141,260wspreetemn 1,284 1.316 3,90 5,341 7,210 10.7 14,112

ntst 1,103 1.579 2.071 3730 8.427 9,684 16,t9PvsIan 87 13? 243 44 M1 534 6PrAesas for Ehug Oelf toa 234 1.393 1.221 1,613 10.039 13.54 14."4Othe Upue 3.,168 6,174 11.3" 20.86 28.77 45,00 67,397

Total Oeret Supuitur 17,331 28,362 49.839 as.027 l08.58 16193 254.268ot hiRdbs Vow ud Seres, 2,031 SI0M 7.S 1S,3 2895 S0.296 77.75A

OPertin *wAptus" 1,008 U 473 (2,09) (,3W1) (30,00) 00,9 )

Direot tax IlMigtiqmu 676 TOO G 1,031 1,39 1.5S1 3ff9l

Opeting rplmWtos after tex dAlmtfos 32 1t (391 (3,123) (24.,4) (2,41 3,489)

SeasIdRes 27 37 25 22 28 is as

After ta eaitb*1 in 359 216 1367) (3,101) (24,715) (32.423) (31,81)Of sAidme Delard Di,I 0 70 142 362 6 0 1.100

etrined Samit 359 1U (S08) (3,4) (24,715) (32.421) (35.961)

_e It_ m

Duty Loes Acmed oan 6ooc Sold 173 22 605 1.15 5.695 14.301 11.247

Operating SurpltId.ficft, adijutedfom accrued duty ltes 1,2 1,157 1,103 ( ,25) (16,491) (19,463)

ope ratl, Swaus/dfifelt. SJ.stod for asuad1_ty loe. fn pernt of total urrent

mevs,.l-tcludiue stcred 6aty lose 6.S 3.9 2.2 -1.1 -19.4 -t.0 -8.4

Seuree 00

Table 19. Turkey: Fineni NWq.rement of ne(1967-93, In billioen of Turkish Lire)

1992 1995196 19 199 1990 1991 stim Target

Ffxed InvestOent (3t316) (5,130) (6,929) (9,861) (13,144) (11.090) (11140)Chane In stocks (1,351) (2,04) (3.7301 (12,159) (135552) (4017) 2439boHng In fixed a""et (315) (462) (410) (3) 39 (801) (1.'60)Wqulty fn joint vwnture co pfnie (10) 2 (53) (66) (21) (140) (216)

Legal r emqrent ftdob (6S) (74 (122) (165) (26 ( 228) (589)

Total finwncing req4Irement (.057) (7,7I8) (11.244) (22,26) (26,665) (26.206) (47.064)

Intemlty wenerated funds 2,005 3.993 S.099 49S (6,624) (,426) (6.,4)Retined ernings 360 147 CM0) (3,464) (24,714) 02.421) (tS,061)Oepreeaftion 1,284 2,316 3.96O 5,341 r,210 10.31U 14.112Prvtioon or 137 243 646 641 534 465Provision for exchange rate differences 254 1,393 1,221 1.613 10,09 13,054 14,444Divided other than Treosury 20 0 183 357 0 0 0

Finswing rquirement fromoutsfde sources (3,052) (3,745) (6,145) (17,761) (33,509) (34,70) (53,S11)

3ucetery transfers 470 1.054 1 t258 1,394 11,359 9,717 20.400Capital 260 "64 1,024 874 10,2U4 8,945 16,000Duty lomes 166 350 190 m 943 495 4,000Aid 24 40 44 142 168 27 480

Sqport sd ePrice tatbtiutton fud 0 0 0 0 0 0 0

SWport and geveqlopent Fwd 0 0 381 S65 949 0 0

3M borraeing reqirement (2.SW) (2.711) (4.506) (15,802) (21,201) (25,05) C(33.111)

Deferred peayents 2,080 2,698 5,S24 13,153 24,659 36.483 46,561

Advance payfants (2,095) (1198) (3,075) MM) (10487) I'm (9,0)

Cash finaneing requprement (2,54O (1,961) (2,057) (7,428) (6,949) 13,241 4.400

finenig 2,518 1,961 2,057 7,425 6,951 (13,240) t4,400)Chag In cash betan (2) (492) (1178) (500S) (" 551 365Scrities nd dmoits 100 89 41 91 (41) S1 35

omtie bwk leading, net 1.474 5 2.231 S,98 9,451 (10.639) 2.032)Central bu* s56 308 0 0 3,39 (3,113) 0Cromerial bans 754 30 2,474 5,225 5.406 (7,141) (.67)Exishnt 14 52 (243) is 16 (0) (153)

Uorew bowing, net 1,2a2 1,699 963 2,53 (1.570) (3I28 (2,t768)ReeiXpte 1,912 2,S20 3,96 ,.032 4.914 4,954 7,541e_nts (043) (92t) (2,943) (4,496) (6,4) (S,1JS) (10,309)

SourleS No0

TWO 20. Turkwe CuwoldiO4 A.mto Af xtre fA,ery lmb.(1986-93, iwluiiag SOl mior The Privntztimn _ tb..)

(In btlUien of lukEds Lira)

1992 19919 19"8 1986 197 1968 199 1990 1991 Ietlmte let

*ve"M 196 13 2.4 2.823 6.045 10.07 18.679 2,419 48,18 4,300

Tax vall" 75 362 1.193 1.676 3311. 5.815 11.199 15.995 32,620 53,115NonTax nam 119 97 7 258 "4 767 I.2 3.00 3.4 4.96Pastor Inm 2 127 219 s5r 1,648 2.704 2.396 3,4S 3,M80 5,06Cwrent Trafse 0 0 12 53 m 6 1.00S 955 4Copf'tat lrmifer 0 51 11 550 999 2,407 3.914 7.566 20.43

Expnditure or 423 1,56 2,39 5,346 11,245 22,031 35,746 61,103 103,757

Cemrnt pE ndture 0 1 3 4 93 456 1,41? 2,290 3.276 7.26MTaxEenditue 0 45 79 149 19 97 161 249 697 954N-tgx Epmdinture 0 0 0 0 9 38 31 308 614 00astor Etxpeture 0 14 21 4 100 616 1.304 2.507 2.310 4,56

Current Trfen 62 3 97 1,379 2.6 55 4.5 8.411 11.m 22,S24 29,128

Ciptiul EJxpUIStures 3 139 389 489 1.295 3,338 6.027 10.237 16.818 27.399fixed Inwestuent 3 139 389 409 1.052 3.101 s,2m 9.059 1S.S9 27.082QWq In Stock 0 0 0 0 242 237 749 31M 929 317

Coptelo Trnsfers (ett) 21 122 357 327 605 2,145 4,680 680G 0 14.864 32.ff2

msuplus () or Deficit -) 109 213 o50 431 699 (5S7) (3.352) (6*327)(12,917)(19045)

rinuncinu (109) (213) (850) (431) 699) S6 3.351 8.32r 12.917 19,457

Foreign (Net) 0 0 (0) 64S 9 0 649 (20) 1.392 348 5.072oramngs 0 0 1 713 47S 644 514 3.4? 4.781 9.932lqmte_ 0 0 (1) (69) ('77) (26) (534) (2,055) (4,433) 4.860)

OSmti tnet) (48) (16) (46S) (494) (05) 1,455 4,385 8,107 11.80S 14.677Chng In Cauh/uks (ltlt) (61) (2) (385) (582) (9 (1,475) (.014) (1.172) 74 (M)

30r3 SF0

tOl. 21. Ty: NdMIc falncs(136-95, In bttlfns of Turkfio Lire at curret priceo)

1992 199319186 196 1988 1989 1990 1991 Sotim* Target

1. Taxe 7,194 10,906 16,338 33.727 61.175 103.461 1U9,52 323,s576.01rect 2,904 4.318 7,082 14,631 2S.9S3 4.462 79,768 130,922b.ndirect 4,291 6,588 11,256 19,095 35,222 58,996 109, 192,656

2. NM-tax ml lucas 1,51S 1,316 2.131 3,116 5,219 6.258 11,388 14,9593. factor Incme 2,628 4,223 8,201 11,412 12,478 4,061 4,S02 22,8534. Social Func (99 211 (323) (2) 396 (1,60) (1,7M7) (675)S. (Current Transfes) (3,8) (6,441) (10,806) (17,76) (26,001) (38,672) (,706) (143,600)

t. Ptbhic Dofp. Inco? 7,649 10,213 17,542 30,256 53,266 7n,30o 124,36 217,115II. Current Expenditure (3,491) (S,23) (8,704) (19,471) (40,075) (72,1753(129,555) ( 11,693)

III. P"hliC Saings* 4,157 4,950 8,838 10 13,191 3,129 (4.M92) 5,422IV. Investment (S,247) ( " 19 (10,m 1) (16.943) (34,471) (47,702) (62,091) 116,139)

a. Fixed Investmnt (s,222) (,480) (11,451) (1,356) (27,891) (47,030) (77,711) (114,046)b. Stock Chwso. (25) (239) S20 393 (6,50) (673) 15.620 (2.093)

V. Savings-Invest ent Difference (1,090) (2,769) (2,093) (6.176) (21,260) (44,574) (66.683) (110,71)VI. Capita transfes (21S) (673) 1,270) (1,691 (2,S24) (,424) (10,130) 21,161

a. taes on wealth 118 201 302 354 997 1,31s 2.122 3.092b. Cther tramfers (7M (112) a1 (52) (705) (1.402) (2,283) 33,022c. Inreae 1n fixed asset (316) (761) (1,716) (1,997) (2,81S) (,366) (9,99) (14 ,93)

Vll. Change In Ctash4B*korrmhinq 1,304 3,U42 3 363 7.871 22,298 51,9 76.612 89,556*. Change 1n C*sh-3a.k (1,179) (1.590) (2.521) (3,615) (4,301) (4414) 1,590 (6,119)b. Foreign Borrowing(net) 1,083 2,015 2,695 1,815 35,95 2,477 1,72 7,253

-Repayments (1,237) (1,944) (3,73) (7,211) (10,615) (18,265) (29,64S) (38.073)-Recelpt. 2,320 3.9S8 6,448 9,096 14,240 20,742 31,367 4s,352

c. Domestic BorroinI (net) 1,96S 4,138 6,062 14,322 30,791 67,308 94,12V 109,107d. Stock revaluation fwid (565) (1,122) (2,873) (4,451) (6,281) (1337) (20,627) (20,686)

NeM ItemPSBR 1,S69 4,5Sa 6,23S5 12,322 30,085 45.371 9,U439 110,242PISRGIUP 4.7 7.8 6.2 7.2 10.5 14.4 12.6 9.0UIP 39.370 58S.65 100.82 170,412 t 7,254 453,206 774.319 1,227,682

sources SP

vint s.ws-2 an S4 PPPsA2 s*z5 £uswwmsm mia sene I- *mom .au *a sum alen&s ptx esg ghemmes "s .am n

p .- a

5*W Ut's 555'S. Ps's tat's M's lu.s at's Wt's Ms's gw*t ats's st's M's Toele Is': see 50q es a. mi cpna 'S'0 LBS 553 itt is se~~w'lteo "no," weus se's swu ast'sg galls esasesalen allst esres mags u-a' tooet (tal) 00rn wn onto" sws la

cissi is;, nst tw't uses sat', nos' uV*' sIc' to;,* ana' ;t't Ot,* M. 'Bs, etc's ste as5mbpt I I ItsofIS

5's: sis'. sn's, tslas stss dua Mg ga's sate on't guvst me s stanslo 0- aBt 555I 655115 U On"5I '4 1

l " n ^~~~~~~~~~~~~~~~~~~~~~~@5 *isui *u geaJ)s_

w 1*U eg'g a' Cn*'s at's ttts' 550'S bLOL 555 Bi tCUt KS 55'S 554'S ass's u's 'g ss 5 b 1 *_ ts*C 'd

,'ss *sw es use4 t ss t't ws tat' va'55 eas N'U- U5N'55 555'5 st'" allot sties as-s su'it ega s's (5+) IPessAM"u tug wa jfl(Bets) 4901'53 (CBS CuS) Me (all 5 (as ("I) (Ms) (M5) (555) s as anls Ms mn,aeIm sees

'- - *'e " sun tws aUwn Cts'gs sCn Ul sts Ite't gM'so n '55 St5t5 'ttiWtM eutt eK i't $"*a Olts oul Coot) LWe 'Ut'' ' s's tstIt eee gsa Mes ea Sa eM Ins ea Mas Otst sIt eta Ins as sm,b 5g-ms 'I( esn e nt'tgte ns sit ea fto aB eet s ta" t eat sr,* at "a Its m- ain3 £zoe35iq-wap3 I'*rs) *-els tnt' wi's LWs sat au's sos's was' us's asIt gtltt aB tel' tee u (ttw t l tat q ets as *Abd.t *as Iss*' *'4s wild usue st's nt,* see s lw's Uets us's tie's tsn's sn'ns stw's Ott's en ' i at3B' t ' t

is *'s Vt uglow sa'e oil" I oses stal t5B's 1I's ms's gas's0 see's rut sue's ptm_. huaau 'g's- s*- OeUl utes tt ' $=In Oulu 55'5 slt Mom III-Lt MseI teo," iss's; *te's nsa's Ao -1_aW 'I

5w Ila'U $-5t no', all' at,' ewes rseeet soe'e aite sa's. g'es eon ve'si aset ms'st s so s'o: ""of stes las*ss s'- n ,U swa'ws utsts ut s n l n 'n ta'sg tM'S utt'n ' Mon ats e site sass n 's oes tusa as's "tSW 'Swims "a 'Al

ss'ss sass's) us.t's 1s:'s: ssesls liSt') ("Is'fl s) ( see'-stow (sn'S) (tie) taue) (as) foles) ton) (No) 5U6 'emiz 3seo 'M- s: was's Us's d's III'*t nas't us't gs'ow tot sen's s's Mts's iu's 5*e us' 4u's &*ae 5.sss eq t aT le '_

isSa t'ss ass', sa's aaa s', sgg',i sWe'ls see', mase Isola gala sss9 Sella esee;; em's: getssf Mo'S s-"as ussutmsas '49si0 ts,wt ass, twe', ass's otas's la's st'os sTooe soss us's e'se owe's Ga's sela' ess's asses- 1403 'f

's a$t-' e n'. tw : 'U "ts'g tst'-g te't sU 'e s U ,ssc as' n us'm oB Sae'n sscn ass,s ts's Oli etvpat " sa1 s

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SI twt's lews on 5 JILs't( 3s Ufa *m'a tWI, " to a's$ aU I __ s

4Vl 65S SW" to S Si'9 UO1 915* SIG SW" VA-"s WIG tw' tm'sa ua. 1 lip

WmAm* WM4 om 10~e

l.3 mot *Ws iwo 0 u' Au,# l's WS'S 65' WI'l S' ml'p ml6's mot es" "s lueW4 "

SIS WIN men ms ms au*,s" OWN. full" iS'. s'6w A"S moo SW' own QV * t *11s q) _ ssws *g"a1 NL19P U6S' 6WAS? 55'St twoS Wat9 uj'Js g $wn W wuo mtess U53 Uelim5mf I 1

' 'WW 4lS'4W lLuq~~~~~me Mm.' pa iwme ueqs ns s-

Smi oWls iu'w iS'St uSS'u9 us'. 19'w sse' g <#gp s#* n'l5 g~*, g'p swapn(leab s Am s- 104m3 _YIU US' Il6 5'A MI" uIs WWn uu 45 IlL'S ISO' mot 04) Au"

(* ll sts 538t ELI 51 395@ £1 1US St PU LU ON II_ I

L** O6s'41 ppOsl iw's sss'L1 W',l ill's as*es us's ass's. rn's us's. win'.. jec~ waIi*absson 'sq

-- ~ ~ ~ ~~~~~~~~~olg MO '4o -s W _ I U" 14W-59 p~~~~~~em mo awimu A asass

_S~~~~~~~~~~I ow _(OV1"M* _AM :

~~~~~~~~~~~~Wn A' " *iI0 eMNI

ww'w wags ww-. wiris ir4bs irs'S wrWP wFUW waAwN iw *j nwJS mevu iSIW wJZri15w55"

l93 S

(ro) VsU 01 tm 1 tWI l ()sur ti a ni 1 us mt S Wm uWu wail rw n fro Su uwme'g oni *'9 ni Vs "et Wt's 11 SW$ so _'V*u 5 V t(8S 8.95 I *s' EVs Vsl re1 n'. 515'S S Al Ws im-'sm

£1 All F 33' WI' 99#15us 9*5 m9s WI cs ri 17 X U. o m 1

w^zo rn ersfq Si SWi w*i ei m't"^t s 33 (8.1 r. (61 8.19'ie aic r' m 0v rti rit rnr I us's 's m r r u tnl Uri owl %WI au 3 5

QM1 mauU ma au e mmW16m Wm aum No auanu

_-11466114 OS UN..... 31 . .......... . .. .6.3.3.... . . .. ......... ._.._ ii _.... ..... ,.,,.

r9 "WO(9) CM) 41(0) (6 no (0cm ) in ) (9t)p (*u) (at) t(i (1") CM) US) Jis") to. cm) cut) ( (no UeI')(L'919£ (tulpo 3e33erig() U (Om 0 (401 (m Jl tw £u (8 3w 01 a I a 19 (SI) (t CM6 K 9 (91) (IL toi (U) Wmi)(1 (Ml) (W'19110 a 0 too 1 ISSjIU' 35P5£5 (deptl tO1 U(i ) l 30m ( ()) (93) (1i too (o ot) (* lit 4) (1 (01 cm) Om CM) ("; t) (9Ml) .Wl "9 0(ut'0(wL'OL ONrt Wi0stl quois"Is ) O cup(I W) ("a9 (411) (9t1) aW S)( ) (Oi) MO*1) (199) (1U) (9RV) (1 (ml) ul (6 It~'t 'US" '19@ ownS YC 3rs "es 5wt gei mot U2 9 9U 4Mot Mot s 91 mot *11 "# £9t 95so& u* sw 1 0w 6 5 w ) ml's it s s 4is ril 33' 397 1'Ut £1 on re Uin 9 966 m 9 ,1 m, 1 ml Wi AoL 913 to 961 Wi 5 at 33 6 Jat W) owl $10ot mll Mot 6't C

r5 WS L Uses la 's $ tS IlL'S 1Si IS I 1 gm 1WV$ Aw l Wl 5 0' on Is 1' 33 m3' mn Mott (' 564 uu64 a"" are m m m 'l m l m $w $ ' m du $t <' 0' "I m" 6"' m 6or n ctimt't 4w slot "Vti=, WO_ PrF me ses us i9 as 91i Ws as £w St i in m t 516 iS an Abi a 46 0u1 SI ( *'4 wt Ofid 19 UO t IsA'St (W98 US'i R'S 1'Sb *' 'itWl II 'I S ill 'S 91'S Al IU'N91 lU' 9' l 'S 59'S 96 'S 918S ^'l as W 9'i u l (LI elS UL' 54'S 5191 USt n i 15 .0dS" 1

UV gol XES#a $IC easgx m f " m is ac6 in m u m m O a no9 ow O rt on0U1 Z Z §$l J"l w 3? u" 4 ml's 96 mo owi US cm's 49 CWi 96 go SOi' AU Jo 9AM SWA Aw 39 Su1 9wl 16 cm1 84% WO;' 09't moo twoS woos u.j

cr" m u ts It 0 a a et a A a a Oa u tt it a u an a2 m tat Au mWO $WS WI' s ' 9S ISO' S W'S M1 914 ' " 54 4 GU M Me 03 I. "O I A U1 YU uer UI' =*I W' US't Luwra uWis uto Gw Ar VW$ U6 Aw twt "e ErWI Si ze Awe SW *'l Owl " ais 6w " . swt owl rt Own own $ven awu o ion "Isio" a

104*04W~~~~~~ . _ ...... ._ . . ... - ----- ON

(84 IS86£195359 1 9 I361 R' 991 _---- _--_--ii91 W U -965X *36-- 991-*--***-* UILZ 30-1- 961'i lti'U LU

4-p

SIW *A"6 PU "oft "Aml *lPa

t { 33 " ::4 oo 2 ;; " 3ft 0 f; t t f j

7 .X ; ** " s * ^ t O Nt *5I * f te Of | O--t " _

< S ls lg 0 2 SX.2 l- SI I I I 11111

I ll§§* ftt V-*U^I 0fiG

X X t;b^ *ft@@304ft%0pjtOftf.s 5" S III 11511sP3rl§B:" ^ I I .

Z ! 3lXgl t|i a E.

.1 g g n ¢g g r l# tls g i O

*Xl clg};iXiZXllllii I

tWbe 2V. Turtkas I"srto by swtes It. 19WIl9(In dAIlion of dotter.)

P. .. herea* In Totat 1 t -r - ----------*@- hq. - un -- .1S ... -**f.

sW twa S Os o 199 1 "t9 -111 1907 19 "ga tsso 19" 1990 rn

I. Agrfulture nd LIwestok 782 499 1,041 1,319 m 547 714 30.6 5.5 3.5 6.6 5.9 3.8 4.2 5.0It. InIng 3.034 2,J6t 2,90K 3,969 2,992 16'm 1,989 5.S 21.4 20.0 10.4 17.9 14.2 U13 13.9

Crde 011 2.711 2.434 2A456 3,519 2,456 1,541 1,711 1.0 19.1 1r.o 1S.5 15.6 I.? I1.? 11.9Oteors 323 427 447 471 535 344 27? (19.3) 2.3 3.0 2.0 2.t 2.5 2.6 1.9

III.I,mstry 10.341 10,979 11,648 16.994 17.239 0,729 11,628 8.4 73.0 766 75.0 76.2 81.9 61.5 81.1Agrar-Itdutry 720 736 643 1,401 1.162 726 688 (S.3) S.1 .1 S.3 6.3 S.S S.S 4.8Petr.leaPraiwxt 24S 343 5 sU 0 954 614 502 (18.2) 1.7 2.4 3.3 3.6 4.S 4.7 3.SOther Iniistrles 9,377 9,69 10,45 14,768 1S,124 9,S39 10.436 11.2 66.2 69.0 66.4 66.3 71.9 fl.3 72.8

Cemw*t 50 SO 12 45 22 14 10 (25.0) 0.3 0.3 0.1 0.2 0.1 0.1 0.1Cbmien t 1937 1.904 2,101 2,4S2 2,464 1,496 1,6U8 11.S 13.7 13.6 13.3 11.0 11.7 11.4 11.6a Isit .ud PlastI 488 52 464 604 641 S16 616 19.3 3.4 3.r 3.1 3S6 4.0 3.9 4.3dbthet and set. 74 S1 73 124 117 6O 90 12.3 0.5 0.4 0.5 0.6 0.6 0.6 0.6

Poratry Pro"ts 7 9 9 21 23 15 1a 16.3 0.0 0.1 0.1 0.1 0.1 0.1 0.1wAs4ng 201 260 297 579 5S 3SS 428 20.7 1.4 1.6 1.9 2.6 2.6 2.7 3.0OSt and Carme 117 141 126 U12 l11 118 126 6.3 0.8 1.0 0.8 0.8 0.9 0.9 0.9Irun N steel 1537 1.65S 2,217 1,931 2,011 1,23 1.31S 2.S 16' 11.S 14.0 6.7 9.6 9.7 9.2etatel other thbn Iran 416 412 4l s 451 291 284 (2.4) 3.0 2.9 2.7 2.4 2.1 2.2 2.0

Wethatio Goods 56 62 57 106 121 7 Jr 13.2 0.4 0.4 0.4 0.5 0.6 0.6 0.6Nechleeeiy ProamtIon 2.455 2,400 2.189 3.754 3#7%6 2,26 2.426 7.1 17.3 16.7 13.9 16.6 17.9 17.2 16.9EIeetrlced tbqalmente 940 1,075 1.029 t.570 1.08 1.155 1.117 (3.3) 6.6 7.5 6.5 r.0 8.8 8.0 7.8* hIce 5 S50 690 795 1,60 1,S58 987 1.482 SO.1 3.9 4.8 5.0 7.2 7.4 ?.S 10.3Oter. S4S S86 671 1,079 1l164 77 m 4.7 3.9 4.1 4.2 4.8 S.S S.6 S.4

Tot It 1U.158 14,340 15,M12 22,302 21.030 13,161 14.330 6.9 1.6 100.0 100.0 100.0 100.0 100.0 100.0

11 tempt god

$-we" flis, $P0

two U. links, Olt I,wts. "96r-

** -*0*---- **-**v** - . . . .*......................................* _ ............... - .2 ......"a1 0 190 "go 1 A it w am hry. J- *r Sp _m4 s 1P, ar* twit br o. MA hA tp SM

Ol lt et (55) 2,71n 2,430 2.435 1.4" 245 2 " 6 w 1 1a 15 31 2 1,7u 7 1o 57 16 in 2 1 I7 m 25 1,

Vlum (tam ' 19,62 21,637W 1M9 ",S 17,640 I,11? 1,434 1,5 .9529 1,73 1,u1 %1 1,15 13 1,91 14 1,1 I,3 1,m 1.51 I^ 1,170 1,747 1,13 14,6o

bidt price (W/las Ise In 1.2 176 139 171 13 13 15 1 32 12 12n 13 133 1e 6 1in 1u1 11 GI 13 1VA 15 142 143 15

bilt prf.SAw A) 19 tItus 24 19 a 1 17 1 9 1719 t1a 9 9 W 199 19

.... .... . ....... *... _. _. _....

goa In tO _ta (two V CM) a 1,60 (1,N 9). 162Pes Ca a (499 .141 (2,127 (3) 12bit.' Ca.us 36 2,31s)5.11 (331 156

It T* ds .f Vi e wid sv mu i uus a t vpt.e dg 16to w utum em a er.s_-U ant.

bn.. 3

Table 29. Te alet of Pa,uus. 19"692(in elifmne of Us dotlas)

1966 1967 1985 1989 19 19 1991 Utiste TargetA. Wrent OAcnt

Kerchnise esprs M 7,8 10,= 11929 11,760 13.05 13,46? 15,250 17,10Iperts Fm In trad rturn 7,457 10,190 11,"2 11,625 12.959 13.,53 15,100 169150tranmlt trad 126 132 267 15 6 74 150 1

Neo ie tS, FQ (1.4) (13,551) (13,706) (15."9) (22.50) (21,00? (5.210) (20.70)t F Clf n trade retra (11,105) (1458) (14,335) (15,72) (22,302) (21,0?) (t5,000) (5.,60)

IpO of .- l_tet old (9U) (121) 32) (1i05n) (1532) (1161) (1.40) (1,40)Tnsit trad (105) (U) (161) (76) (45) (64) (140) (0")freight ad 1nwrman iesa 440 616 7 1,29 1'5 1.0 1,50Trab astn (3,1) 0.2) (1.7) (4.t219 (9,55S) (7v3t (7,94O) MAW49)

Other goods, serviess,u Inoe a cedIt 3,3W 4,195 6,026 7,096 8,9 9,315 10,20 12j1O

Tr1aw 950 1,476 2.3 2.557 3,25 2.45 4,000 5,000intert 341 32 57 664 917 93 1.00 1,300Othe 2.067. 2o3 3.29? 3,7 4,791 5,16 5.m0 5,80

Oer soods, "eic,aN I sse t debit (3."6) (4.142) (4$12) (5a476) (6,496) (6,816) (7.460) (,00)

Trael (31) (446) (5) (56) (520) (592) c00m) (100interet (2.134) (2,38?) (2,79) (2,90) (3,226) (3,4C0 S ,) ( 320. )other (1,199) (1= (1,655) (2,004) (2.712) (2,794) (3.350) 0,00)

Tout t Gooc., sevcesaN Incoe (3.389) (3,196) (5a) (2,597) (7,118) (4.141) (5,140) (4,790)rivatew redfte 1,718 2,08 1.866 3,171 3,374 2,579 3,000 3,00

Jorant, traefes 0 0 0 as 0 0 0 0Worwks remittances 1,.34 2,021 1,776 3,0C0 3,266 2,819 2,00 900othU 67 70 106 126 60 150 1SOPrivate murea*ited

trafes a *ebft C1S) (22) (19) (36) (25) 3 O 0Offeiat uwW tedtrnsfer Credit 221 52 3 43s 11m 2.245 910 5S

Vorkwre drittano_ 42 pl S is 9 S2 d sooter (net) 1S9 243 243 35 1,065 2.143 3S0 5

wra* AMhi gas (11,4) (0 1,5 91 (2,45) 5 (1.50) (l,1o)B. CaPital aecosmt 214 1,S9 (5) 780 4,07 (2,397 2,350 3,10Fereign direwt Ifroatt 125 106 354 643 700 7 1050 1.300

Prtfolio lnvetWe1t 146 11176 1566 57 6A 1 1Other ang tm capIt a 1,01 1.453 (20) () (210) (8m6) (750) 400Drawings 2,55 3,385 3.126 2,620 3,679 3,784 3.5 4.30

Dresdre_ 4I2 155 594 516 49 (497 330epm_us (2,173) (2487) (3.927 023) (3.96) (4,095) (4,300) (4,000)owt tam e4itat l12 50 s (2.21) (6) 3,00 (3,020) 150 (o0)

ASShrts termapital3013) CM) (1.43) 371 (409) (2,50) (1.m0) 0credift a _ d i(3) (842) (407 390 156 (811) (1SO 00Total change In hotedls (40) (105) (1) (19 (5) (1m2 (1,500) (500)

Liabitities ,125 99. (5) (955) 3,409 ( 1,O MCredits 964 66 (943) (1.27) 2.520 590 1,700 (9)osposits U1 305 90 m 8 (1,067) 100 0

C. Net errors n oIssio (118) (06) 515 91 (4 960 M0 0D.Ex*eptlo,wtf inheluw 0 0 0 0 0 0 a 0E. Counterpart Item 24 390 (263) s 364 110 0 0OwettU balnc. MW to 69 2.782 1,30 (I1Om lo 1.3.01000F. Rerve smntS (M9) (949) (690) (12,72) (1,308) 1020 (13,30) (3,000

IMP (M) (M)320) (49) (252) (a) 0 0 OOffiial reser (4) (49) (2) S.10) (1,255) 1,029 (1,3O (2.000)

source: Centrat SA ad 6PC

Table 30. Tre nsuiro bsol ODt(196-91., isaitlus of dlltar)

INS 1986 19? t98 139 1990 l1

Total 6476 32.101 40.U 23 40,3 41,1 - 0I5--edliwand Lae-ter 20, r717 6.2 32, 34,305 136.006 ,5 41,

hort.tera 4,759 6.349 7,62 6,417 5,745 9,500 9,117By Sorrwer

................................................................

edtaSmndL * -ter .71 25, 32,605 34, 36,006 39,5 41,3onesidted oludat 12,581 15546 19, 20,746 21,21 0 #,14Olrect lorrowp ,972 4,984 10,46 11,756 12,330 U,219 U,5WOn tando 3,310 4,305 5,40 5.510 1,658 6.19f 7.066^anexsd _ dt 1,29 2,257 3,161 3.480 3,333 3.446 3,481

0ther Pu*tle sector 7.17? 9.122 12.026 12,034 13,167 1407? 13.977Contwl Ornk 5,03W 5,85t ?,094 6.546 6,971 7.33 4.SO*IE 2,113 2,98 SI7M0 3,9181 4392 4,785 5,16Extra _idetary Fund 0 146 36 9"a 8 2 939 1,10sLcat Adeiristration 27 SO4 39 51Z 99 Ian 1,159

Private $ector 95 1,084 1,323 1,525 1,606 1.79 2,252

Ubut-ter 4,159 6,349 7,623 6,417 5,74S 9,S0 9,117cent,L Bnk 1,646 1,157 2,539 1,630 799 as w55

of thigh Dresird 20 730 871 747 713 695 553crctal Banks 1,021 1,937 2,87 2,767 3,118 SI3M 5,216Other secto 2,0I 2, 2,211 1,020 1,628 3,2 3,3m

By Luidr................

".-rwr Lot 20,71*7 2,752 32,605 34,305 36,006 39,5" 41,7mti lateral Agences 6,309 7,639 9,802 9,192 8,740 9,56 10,0O

lN? 1.326 1,05 m 29 4 0 0IM, IDA, IPC 1.XI 4,917 6,550 6,421 6,139 6,435 6,50

-uron twee* Su* 453 571 65 13 361 64 d0Eurpoen Settlanit Fta 61s 1,216 1,757 1,36 1,918 2.439 2,59Pistlai.evalq ntBank 12 la 15 a2 51 O8 54amtold 35 30 25 20 15 10 5int.rund for As. De_nes mt 7 8 10 11 10 8 9

Slitterst Leuda 8,122 9,6 11,610 11,382 11,431 12,966 14,5am countries 6,4?7 8,049 .,08 10,043 9,992 11,452 13,16

¢ Ccimtries 915 1,013 1,066 66 69 7 56 433Othe Coutri 560 584 S 458 742 70 90

C_muecL larks 4,159 4,969 6,391 8,691 10,269 10.6 10,992rIvate Lwder 2,127 3,296S 4,732 40 5,54 6,267 S,72

than 4,759 6,349 7,66 6.417 5,?45 9,00 9,117cercisl Irks 1,495 2,673 3,725 2,90 1,841 3,8S 4,144Private Lenders 3,24 3,676 3.98 3.467 3,904 5.455 4,973

mY T"e of Crdit

mdtu ed legstow 20,717 25,152 32,605 34,305 36,006 9,m 41,37tPrtojet end Proern ceits 13,081 16,784 20,646 19495 16,929 21.116 30,81gur-aoJurecy leanw 2,423 3,576 5,415 8.50 1039 10,0 10,3edo teAd debt 2,005 1,4 1139 10 66 12 11CTLDS*s 1,421 1.166 813 329 0 0 0sae sodits 315 an 143 57 0 0 0ITA'S 269 229 1 117 6 1t 11

Privet. srsdl 2.451 ,7M 5,405 S02 6,742 7,7 7,54

Shot te 4,59 6,349 ',62 6,417 ,I5 9,500 9,117m redis 3,197 4,363 5,1NK 3,964 2,950 5,M 6,14joa cwts U32 WA 1,31 114 35 51 0Overdrafts 376 77 252 1 30 24 3Aguopceme credits 1,0 1,061 1,05 90s 69 1,386 1,04proa oft credits 609 429 74 131 a1" U6 iX credits recived by O 297 67 1,128 1.02 1,05? 2.03 2.7m7X credits received by othteweters 390 9S 932 76 719 1.740 1,3

Others 0 0 0 0 0 *4 0osits 1,562 1,96 2.619 2,433 2,795 3.976 2

t deo t acu 724 1,250 1,745 1.165 2,061 3,280 2,4wDref ank tok s o20 7 67 747 7n 49 5CT&Ds 1 6 3 1 I I 1

,o,eflon, Iahw Deposit Acount..... 0.............. ....

Totoa lz 3,402 5,049 7,1 7,5 3,294 1o0 250 8,,sidium eWA ltoo term 1,85 3,069 4,569 4,73 5.0 68 5,715Dresiler Uwk _chans 1,58 3,069 4,569 4,7 ,500 6,25 ,

ort-te 1,54 1,980 2,616 2,42 2.79 3,97 2.3DrOn_er am 620 730 o67 74? 7 ForeMip' ea q dpoit sems 72 1,250 1,745 1,65 2.061 3,0 2,42U

S_res trmUV ERtwmil Det AiLetin

Table 31. Trkey: Debt Sevie Paymnts(da-9 1/, uM mdll.. rd peeent)

19m tm II8 1959 1990 11

(in .dtlt1w of US Dolltr)A. kWb servic 4,491 5,56 7.24 7.245 7.49 T.166

5. Prlisip 2.5 3.130 4,3? 4.21 4, 41*.by Borrowr 2a 130 4,35 4.243 4.58 4 INedi awd Laiw-tes a.5 313 4.5 4 21 405 4.111

thlc Sector 23420 2.940 34 341? 3 CNt GoaVUmt 13 1.716 2,35 215 2,15 2loopCentra lnk 4 7 19 67? X2I46 MOe (a") 311 45 435 9 71 1,?

P"vate $astor 133 170 69 "6 7M6 11

b. by Credito 2,52 3,3 4,358 4,23 4,032 4,1ea ad Lang*tem 2,52 3,3 4,35 4,263 4,032 4,121

Interratimti Istitutit 49 610 621 715 465 62ofl tatrl 63 946 1.301 1,132 1,27 1,012Omuerisl btal 59 1,231 1:956 1,J2 1,40 1I8'0Prvate sector 191 141 29 590 631 m

ortteu ** ** ** . O* *-

C. tntest 2, 2,45? 2,911 3,052 3.44 3*. by Sorowr 2,136 2,4$7 2.911 3.052 3.44 34

NdI - ad Lon-tem 1.7,1 2.0 2.570 2,61 2.3Pmcis Sector 1.716 1.94 2,24 2,U4 2.5 2,

Cent orwuent 1,000 1,212 1,35 143 1,522 1.41?Centrat Ba 4 448 7 62 m 6Othrs (aft) 233 3 33 341 40 41

Prlvate ctor 8 35 9 104 160 1tsNot-em 36 45 5 462 "4 8

Plfe tor S U 22 as 104 1CtmratI* 13 176 227 14 ff ffPrivat Sector 254 2U 290 325 46 12

b by Credto 2,1 2,40 2,2 2,960 32 3,46edl ad Lang-tem 1.741 2,002 2,3?2 2,570 2,61 2.2#

nta tlonl IstItutIm 5 65 4 50 611 44atra 0 16 569 47S 71 5

Ci lal bo 32 436 22 436 591 USPvt etor 2 31U 551 67 SO 3

hort-ter 394 401 456 30 516 44

0. NM ias

(in PercenDebt serveO/W 6.0 6.2 10.3 9.0 t.1 7r.ODet erloempor CM) 61.9 54.1 40.9 61. 57.6 sr.oODbt Servlcsxpwrt (@oo.d, 5.0 4.4 49.0 44 40.2 42.0

Srvle USkb* R.tten)

(fn .dll1m of Us Dollar)Currant aeownt belaw (1,45) (006) 159 961 (2.65) US

(In pecn)ett reuree Tnsfer/P 3I (6.2) 2.3 6.2 4.6 (.6) S4

UI Prasipael d Intrst pIt totas by borres ai by eitorsdiffers frm ee ec oftwe becuie of inconsistencies few the Contrail NMi d61t.

2/ Mar tm dbt cn not be clmifled uer dbt sevice p_s)mtsisn It is reorded on a met bols

3/ elrrent ACsua Osfelt/UP

Sewurc Central Seek

Table 32. Turby2 International Iesaev(196-1992, Ist fri1dy of tae peeled, In S tllion)

' -.... * 1992 - -1985 1966 19l6 1966 1989 1990 1991 Mar.27 JMs.26 Iap. Does.2

t. CUSttSl 6 n 1.692 2,545 2.998 3,690 5.938 7.485 6,586 5,160 5.901 7,10 7,6D

bIdW, Officiat Value 1,048 1,254 ,562 1,5"6 1,354 1,466 1,493 1,m 3 1533 1 491 1 536Gold* Mrket Value 1,224 1,484 1,88 1,551 1,472 1.507 1,429 1,412 1.425 t1407 1.490f_ oiun bxei 6S4 1,291 1,436 2,126 4,584 6,017 5,106 s,62r 4,368 5,719 *Wm

L. Comrefial ub*s 1,595 1,619 2.240 3,000 2,399 4,279 6,50 6,385 6,60 6,53 8,170

3. Inenstimnal eserv 1/ 3.28? 4.364 5.23 6,690 8935 11.76 13,126 11,54 127M 15,40 16,.5

_N stm

MaMbo of Iqewts Cvered 21Centrl S_* 1.6 2.6 2.6 3.1 4.5 4.0 3.8 2.9 3.4 4.1 4.

reipl L 0.7 1.4 1.2 1.6 3.5 3.2 2.9 2.1 2.5 33 56cnrdatl 1.7 2.0 1.8 2.5 23 2.3 3.7 3.6 3.9 4.7 4.7laemtionel _esrve 3.5 4.7 4.4 5.6 6.8 6.3 7.5 6.6 7.3 68. 9.2

1/ Seess. forign asset of te banking system2J 19M2 fipm opried to woeqe of 1991 upt

Source: Central _ckk

I55 Iffte _A_

Tm _* 3 b ~tu Yeu Rs" Y t IIY lA

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