Turkish govt says projects better-than-expected growth

Turkey's government said it expects a better-than-anticipated growth rate for Turkish economy in 2010.

Turkish govt says projects better-than-expected growth

Turkey's government said it expects a better-than-anticipated growth rate for Turkish economy in 2010.

Government's medium-term program set Turkey's year-end growth target as 3.5 percent.

According to data announced Wednesday by Turkstat, Turkey's statistical authority, Turkish economic growth accelerated in the first quarter of 2010 to 11.7 percent, making it the second fastest growing economy among G-20 countries after China.

Turkish State Minister and Deputy Prime Minister Ali Babacan's office said in a statement that Q1 growth was an indicator of continued upswing started in the last quarter of 2009.

Turkey has become the fastest recovering economies in the world in bounce-back period following the global financial crisis, it said.

However, the government pointed out that strong expansion was driven by base effect as it comes after a contraction of 14.5 percent in the first quarter of 2009.

"Despite uncertainty in global economic outlook related to recent problems in European economies, we anticipate a stronger-than-expected growth this year," the statement said.

"With its strong structure of economic and financial system, Turkey has become one of the fastest recovering countries. We expect Turkish economy to continue this performance in the coming period," it said.


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Güncelleme Tarihi: 01 Temmuz 2010, 11:51

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