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Continue9th August 2016
Pauline Rottstock
Kemal Öztürer, partner at Promesa Denetim ve SMMM AS, MSI's accounting member in Istanbul, wrote a comment piece on the failed coup in Turkey which was published by the International Accounting Bulletin on 5 August 2016.
The failed coup in Turkey is likely to have serious effects on politics and society, including the economy. The arrests of military personnel have been swiftly followed by arrest and suspension of members of the judiciary and government bureaucracy. As of 25 July, almost 50,000 government employees have been suspended and 10,000 have been detained.
The coup was over within hours of its start, with the government regaining full control over the military with the help of citizen and the police. The government claimed the coup was organised by supporters of Islamist intellectual Fethullah Gülen, who is living in the USA.
It’s very important to examine the impact of the failed coup on Turkey’s economy. It depends on how widespread the purge becomes and whether any economic policies will change significantly.
Promesa is a medium-sized auditing, accounting and consultancy firm.