Turkey marks 40th year of one of the most radical moves in its history, which aimed to liberalize the economy through structural reforms.

Decisions announced on Jan. 24, 1980 changed the basic paradigm of Turkey’s economy, springing it to life with a free market economy approach.

Suleyman Demirel — who would later serve as Turkey’s ninth president in 1993-2000 — formed a minority government at the beginning of 1980, and appointed then-Prime Ministry Undersecretary Turgut Ozal — Turkey’s 10th president — to the top of the economic transition management with full authority, and Ozal prepared a stability package on

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