Turkish govt hopes Q1 growth likely to reach double-digit rate

Turkish government believes that steady rise in industrial production figures could lead to a double-digit growth rate in the first quarter of 2010.

Turkish govt hopes Q1 growth likely to reach double-digit rate

Turkish government believes that steady rise in industrial production figures could lead to a double-digit growth rate in the first quarter of 2010.

Turkey's statistical authority, TurkSat, announced on Monday that Turkey's Industrial Index recorded a 21.1 percent year-on-year rise in March, 2010. March industrial production also recorded a 16.3 percent rise when compared to February.

"Considering electricity consumption as well as production and export figures of many sectors, I can easily say that rise in industrial output would continue," Ergun said.

"I believe that these figures could lead to a double-digit growth rate in the first quarter of 2010," he said.

Ergun also said that government would revise upward 3.5 percent growth rate projection for the whole year, however he did not elaborate on a possible revision.

Turkey saw a 6 percent growth rate in the last quarter of 2009. Turkish economy contracted by 4.7 percent in 2009 over a year before, well below the 6 percent year-end projections in the medium-term program.

Analysts have made predictions somewhere over 5 percent for government's possible revision, Ergun recalled, adding, "I hope we can see a growth bigger than that."


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Last Mod: 10 Mayıs 2010, 15:05
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