In September 1981, on the first anniversary of the military coup, the Economist summarized the succession of events that set Turkey’s critically ailing economy of-the late 1970s on its new course.
The first step was an economic package announced on January 24, 1980. Designed by the government of Süleyman Demirel, it was the brainchild of his finance minister Turgut Özal. The second step was the freeing of interest rates on July 1, 1980. And the third was a series of measures introduced after the military takeover on September 12, 1980.