The Turkish economy underwent several crises in its last few decades of history, especially since the 1980s. The first bigger one out of these is the financial crisis of 1994. Numerous stabilization programs were implemented, but not many of them reached their goals, due to the political and economic instabilities of the country. When a crisis hit the Russian economy in 1998, it spread to several others, such as the Turkish economy. When the growth rates ameliorated, another crisis hit the country in 2001. The last larger crisis in this period was the one in 2008, which affected the global economy. Even though Turkey suffered from many financial and economic problems, it seems to be on a path of humble but steady economic growth.