Turkish State Railway : Options for Reform

During the 1990s, the Turkish economy was beset by frequent economic crises. Fiscal imbalances, high inflation rates, and the subsequent stop and go economic cycles hit the Turkish economy, slowing growth and plunging the country into recession. Sp...

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Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	railways state-owned enterprises public expenditure fiscal risk public spending reform privatization ports TCDD railway law restructuring program
Online Access:	http://documents.worldbank.org/curated/en/890981486366173310/Turkish-State-railway http://hdl.handle.net/10986/26066

id	okr-10986-26066
recordtype	oai_dc
spelling	okr-10986-260662021-04-23T14:04:33Z Turkish State Railway : Options for Reform World Bank railways state-owned enterprises public expenditure fiscal risk public spending reform privatization ports TCDD railway law restructuring program During the 1990s, the Turkish economy was beset by frequent economic crises. Fiscal imbalances, high inflation rates, and the subsequent stop and go economic cycles hit the Turkish economy, slowing growth and plunging the country into recession. Spiraling debt and interest payments coupled with failures in financial systems resulted in significant financial crises in late 2000 and early 2001. The Government of Turkey initiated a number of economic reforms to contain spending, cut its deficit, reduce inflation, and provide a basis for renewed economic growth. The Government has mapped out a structural reform program encompassing measures to address the biggest sources of fiscal deficits, strengthen the legal and regulatory frameworks, and accelerate the privatization of the remaining state enterprises. Reform of the Turkish State Railways (TCDD) is one of the main targets for change. Over the past few decades, TCDD has fallen into a financial crisis from which it will not be able to emerge without a dramatic restructuring of its governance and organization. TCDD operates the state railway, the seven largest ports, and manufactures and repairs locomotives, wagons and passenger coaches. As an enterprise, TCDD is the largest money loser among Turkey’s public sector enterprises. 2017-02-14T16:41:53Z 2017-02-14T16:41:53Z 2002-06-15 Report http://documents.worldbank.org/curated/en/890981486366173310/Turkish-State-railway http://hdl.handle.net/10986/26066 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Public Sector Study Economic & Sector Work Europe and Central Asia Turkey
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	railways state-owned enterprises public expenditure fiscal risk public spending reform privatization ports TCDD railway law restructuring program
spellingShingle	railways state-owned enterprises public expenditure fiscal risk public spending reform privatization ports TCDD railway law restructuring program World Bank Turkish State Railway : Options for Reform
geographic_facet	Europe and Central Asia Turkey
description	During the 1990s, the Turkish economy was beset by frequent economic crises. Fiscal imbalances, high inflation rates, and the subsequent stop and go economic cycles hit the Turkish economy, slowing growth and plunging the country into recession. Spiraling debt and interest payments coupled with failures in financial systems resulted in significant financial crises in late 2000 and early 2001. The Government of Turkey initiated a number of economic reforms to contain spending, cut its deficit, reduce inflation, and provide a basis for renewed economic growth. The Government has mapped out a structural reform program encompassing measures to address the biggest sources of fiscal deficits, strengthen the legal and regulatory frameworks, and accelerate the privatization of the remaining state enterprises. Reform of the Turkish State Railways (TCDD) is one of the main targets for change. Over the past few decades, TCDD has fallen into a financial crisis from which it will not be able to emerge without a dramatic restructuring of its governance and organization. TCDD operates the state railway, the seven largest ports, and manufactures and repairs locomotives, wagons and passenger coaches. As an enterprise, TCDD is the largest money loser among Turkey’s public sector enterprises.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Turkish State Railway : Options for Reform
title_short	Turkish State Railway : Options for Reform
title_full	Turkish State Railway : Options for Reform
title_fullStr	Turkish State Railway : Options for Reform
title_full_unstemmed	Turkish State Railway : Options for Reform
title_sort	turkish state railway : options for reform
publisher	World Bank, Washington, DC
publishDate	2017
url	http://documents.worldbank.org/curated/en/890981486366173310/Turkish-State-railway http://hdl.handle.net/10986/26066
_version_	1764460858261372928

Turkish State Railway : Options for Reform

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