Turkey: One of the fastest growing countries in Europe

Posted on 14 February 2011

Date: 13/12/2010
Turkey: One of the fastest growing countries in Europe

The increase in the Turkish October industrial production index shows the expected Turkish year-end growth rate will be revised upwards according to Turkey’s State Minister for Economy – Ali Babacan,

Babacan said “Industrial output increased by 9.8 percent in October. The recovery in Turkish industry started in October 2009, and now we see a significant increase in the industrial production index. This shows that we, as the government, need to revise year-end growth expectations upwards.”

Babacan added “The European Union, the IMF (International Monetary Fund) and the OECD (Organization for Economic Cooperation and Development) indicate their year-end growth rate expectations for Turkey as 7.5, 7.8 and 8.2 percent, respectively. This shows that Turkey will be the fastest growing nation in Europe, both this year and next year”.

9 December 2011

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