EBRD ups forecast for Turkey's 2010 growth

EBRD revised upward its forecast for Turkey's 2010 growth to 5.9 percent.

EBRD ups forecast for Turkey's 2010 growth

European Bank for Reconstruction and Development, or EBRD, revised upward its forecast for Turkey's 2010 growth to 5.9 percent.

EBRD's estimation made in January 2010 was 4.7 percent.

Together with Turkey, EBRD also revised upward its forecast for growth of Russia and Ukraine. Its forecast for Bulgaria and Romania was revised downward.

According to estimations of EBRD, Turkey will continue its growth in 2011. EBRD projects that Turkey will grow by 5.2 percent in 2011. The bank's earlier growth projection, made in January, for 2011 growth was 4 percent.

EBRD said Turkey would be the fastest growing country this year in Eastern Europe.

Turkey contracted 4.7 percent in 2009, however it grew 6 percent in the last quarter of 2009 over the same period of 2008.

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Last Mod: 20 Mayıs 2010, 16:06
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