The article analyzes the results of Turkey's economic development over the past decade, examines both the main achievements and problems of the national economy. At the same time, the main question that the author seeks to answer is whether the decline in growth rates in 2012-2013 should be considered a short - term period of turbulence, including the aggravation of the domestic political situation, or the exhaustion of the potential of the previous model of economic development, which means that the country faces a large-scale task of restructuring production and changing specialization in international trade. The author leans in favor of the second version. Keywords: Turkey, economic growth, financial stabilization, current account deficit, dependence on external sources of financing, reorientation of international financial flows, "middle-level development trap". The Justice and Development Party (AKP) period of rule in Turkey (from 2002 to the present) is generally considered to be a very successful one, in part because its economic strength has significantly increased during this time, while seemingly effectively addressing a number of long-standing problems that have hindered sustainable growth. However, the events of recent months have raised doubts about the strength of Turkey's economic position, as well as other countries with growing markets, which were largely beneficiaries of the economic downturn in the West, which caused about 60% growth in capital inflows to developing countries in 2009-2013, according to World Bank estimates [Sri Mulyani Indrawati, 2014]. The prospect of a rebound in the US economy, and the euro zone economies following it, makes the economic future of a significant number of emerging market economies unclear. So, what can it be like for Turkey? The answer to this question can only be found through an analysis and correlation of real achievements and problems in the country's economic development. In order to objectively assess the ... Read more