Abstract

Comprehensive economic reforms have been conducted since the Adalet ve Kalkınma Partisi Party (AK Party) came to power. In particular, the reform program accepted in 2002 accelerated Turkey’s existing policy of opening the country to outside world. The AK Party relied on the Customs Union Agreement with the European Union (EU), which was enforced in 1996 as an important condition for a successful export strategy. Within the framework of the government’s studies, visible changes occurred in the economy. In May 2003, inflation regressed and economic growth of 5.9% was realised. The AK Party continued this slight growth through the IMF programme, which continuously regressed inflation.