World Bank chief economist Aristomene Varoudakis predicted in March 2006 that Türkiye, upon eventual EU accession, would likely outperform newer members such as Romania and Bulgaria economically. He noted that Türkiye already surpasses those countries in certain economic indicators.
Varoudakis credited Türkiye's strong performance since 2002 with driving up exports and productivity while attracting substantial foreign investment. He said the country's full potential had yet to be realized and would become more evident in the years ahead.
At the same time, he identified several structural weaknesses requiring attention, including the current account deficit, employment levels, and the need for durable, sustainable growth. He argued that keeping the current account deficit under control is essential to achieving long-term economic stability.
On unemployment, Varoudakis pointed to two main factors: the operating pressures companies face under a strong currency, which limits their ability to hire while staying competitive, and insufficient flexibility in the labor market. He suggested that greater labor market flexibility would lift employment rates, provided that workers in such an environment are protected by a reliable social security system.
Historical summary. TurkishPress restated this wire report, first published in March 2006, in its own words.