Turkey: IMF raises economic forecast

Posted on 14 February 2011

Date: 11/10/2010
Turkey: IMF raises economic forecast

Because of the stronger than expected consumer spending the IMF indicated that Turkey’s economy may increase by 7.8 percent this year, which is more than double the pace in other emerging European markets, said the International Monetary Fund,

Turkey is recovering from the global financial crisis faster than many other European emerging markets because it has a “relatively strong household and bank balance sheets” and the of global trade and capital flows, said the IMF.

Previous the IMF’s growth forecast for Turkey was 6.1 percent which they published as little as a month ago.

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