TurkeyÂ’s economy grows by between 4 and 5 percent

Posted on 14 February 2011

Date: 30/01/2008
Turkey’s economy grows by between 4 and 5 percent

DAVOS, Switzerland. 26 January 2008

Turkey’s economy probably grew by between four and five percent in 2007, Foreign Minister Ali Babacan said on Saturday.

“It will probably be somewhere between 4 to 5 percent,” he told reporters at the World Economic Forum in Davos, adding that official figures for last year would be out in March.

Growth had been below the average of recent years in 2007 due to drought which hit agricultural production plus the effects of high oil and commodity prices, he said.

The Turkish economy has grown strongly since a 2001 financial crisis and inflation has tumbled to single digits under an International Monetary Fund-backed program.

Source: Reuters

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