Posted on 14 February 2011
Turkey’s economy just keeps growing
Numbers released by the Turkish Statistics Institute shows the Turkish economy (GNP) grew 6.7 percent in real prices, for the first quarter of 2007, making 21 quarters of uninterrupted growth. It is also reported that GDP grew by 6.8 percent over the same period.
The report goes on to state that one of the driving factors is “the strong foreign demand”. The chief economist of Finansbank, Inan Demir, said the main determinant of the gross national product (GNP) growth in the first quarter was the external demand.
Minister Economy and chief negotiator with the EU Ali Babacan praised the growth rates and claimed that these figures prove the strength of economy. Speaking in a press conference at the Treasury Undersecretariat, Babacan gave information about macroeconomic developments and structural reforms. He said the 6.7 percent growth in the GNP and 6.8 percent growth in the GDP were higher than expected, adding, “This continuous growth was one of the most concrete indicators of the environment of confidence and stability in the country.”