2010 ilerleme raporu - Avrupa Birliği Bakanlığı

duty on alcoholic beverages contradicted the action plan for eliminating the differentials
between imported and domestic products. The realignment of the Turkish tax legislation with
the commitments taken by Turkey in the context of the opening of Chapter taxation needs to
be ensured without delay. Abolition of discriminatory practices in taxation is a key element
for making further progress in the accession negotiations on this chapter. Hardly any progress
can be reported on direct and indirect taxation. Overall preparedness in this chapter is
moderately advanced.
4.17. Chapter 17: Economic and monetary union
There has been some progress on monetary policy. The Central Bank announced an exit
strategy for its monetary policy, which aims to gradually reduce the excess liquidity in the
system. As a first step, the Bank increased the foreign currency reserve ratio for the banking
sector from 9% to 9.5%. Turkey’s legislative alignment with the acquis remains partial in this
area. The Central Bank’s statute does not fully ensure its independence. The government and
the Central Bank jointly decide on the inflation target. The legislative framework (for
example implementing regulations on the investor protection fund and on the operation of
pension investment funds) contains provisions that are not in line with the prohibition of
privileged access of the public sector to financial institutions. Overall the preparations in the
field of monetary policy are well advanced.
Some progress has been made on economic policy. Turkey is a member of G20, and
coordination of economic policy in this forum has stepped up with all the other members,
including with the EU. The authorities have been very active in reviving their economic
relations with several countries in the region, in particular through visa exemption, trade
facilitation and cooperation agreements. Privatisation activities in the energy sector gathered
momentum, first in electricity distribution and then in generation. Turkey ended negotiations
with the International Monetary Fund (IMF) for a new stand-by arrangement. The authorities
have been more active in working with international financial institutions (IFIs), particularly
the European Investment Bank (EIB), the World Bank (WB), the European Bank for
Reconstruction and Development (EBRD) and the Islamic Development Bank (IDB), while
increasing their absorption capacity for new loans. Turkey’s 2010 budget aims to gradually
reduce the budget deficit, particularly through increasing public revenues. Technical work for
the adoption of a fiscal rule through new legislation to control the budget deficit in the
medium term has been completed but the adoption of the draft law has been postponed.
Turkey submitted its Pre-Accession Economic Programme (PEP) to the Commission in
January 2010. Overall, in the field of economic policy the country is well advanced.
Conclusion
Some progress has been made on economic and monetary policy. The Central Bank started to
implement an exit strategy for its anti-crisis monetary policy. The authorities have been very
active in improving their economic relations within a G20 context, with the countries in the
region, and have increased their cooperation with various international financial institutions.
The legal framework is not fully in line with the acquis, with special reference to full
independence of the Central Bank and the prohibition of privileged access of the public sector
to financial institutions. Overall the preparations in the field of economic and monetary union
are well on track.
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