One of the most important innovations in public finance management in Turkey at the end of the first decade of the 21st century was the introduction of the so-called fiscal rule. The budget rule, which is a peculiar form of financial control over the authorities, severely limiting the possibility of using populist economic policy measures, can at the same time be considered a kind of guarantor of long-term stable development of the national economy. In this regard, it is important to consider the reasons that led Turkey to ultimately refrain from resorting to the budget rule, as well as the likely consequences of such a step. Key words: Turkey, fiscal policy, budget rule, financial stability, transitional democracy, social policy, money issue, inflation. Given the continuing instability in the development of the global economy, the question arises about its possible impact on the countries of the East, among which Turkey occupies a special place. Recently, the Turkish ruling elite has been actively promoting the country's economic achievements, which after decades of unstable growth has managed to turn into a hotbed of stability, survive the first wave of the crisis relatively painlessly and return to strong economic growth: after a decline in GDP of almost 5% in 2009, the country's economy grew by 9.2% in 2010, and in 2011 - by 8.5% [Ekonomik Rapor..., 2012, p. 367]. At the same time, according to the results of 2011, such important macroeconomic parameters as the budget deficit (1.3% of GDP), the rate of inflation (10.4%), and the relative size of the national debt (40% of GDP) [Ekonomik Rapor..., 2012, s. 221, 231, 367] remained quite prosperous, despite the absence of external pressure on Turkey since 2008 (we are talking about credit cooperation with the IMF) in terms of maintaining conditions for stable economic development. So, how strong is Turkey's macroeconomic position, what are the mechanisms that ensure its maintenance, and finally, how completely has T ... Читать далее