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Category Archives: Economy

Turkey tops G20 for job creation over last 3 years

27 September 2011, Turkey – According to a recent ILO (International labour Organisation) report over the last 3 years Turkey sits on top of the G20 list for job creation ( Q1 2008 to Q1 2011). The report, produced in conjunction with OECD (Organisation for Economic Co-operation and Development), reported...

Posted on 27 September 2011

Working with Turkey will be very profitable says Turkish Prime Minister

26 September 2011, Turkey - Speaking from New York Turkey’s Prime Minister Recep Tayyip Erdogan said that businesses working with or investing in Turkey will benefit greatly from it. Erdogan said “We (Turkey) made many reforms, especially sector and company specific micro reforms, to increase Turkey’s competitive advantage in the world,...

Posted on 26 September 2011

S&P upgrades Turkish credit rating

21 September 2011 - The international credit rating agency S&P (Standard & Poor’s) has upgraded Turkey’s local currency rating to the investable rating of BBB-/A-3. Commenting on the upgrade S&P’s analysts Frank Gill and Leila Butt said “The local-currency upgrade reflects our view of continuing improvements in Turkey’s financial sector...

Posted on 21 September 2011

Arab Spring Fuels Booming Tourism, Property Sales and Economy in Turkey

The Turkish economy was the fastest growing in the world in the first six months of this year, with GDP growing 8.8% in the year to end June according to the latest data from Turkstat. The Turkish statistical body also revised upwards its first quarter GDP figures, from the 11%...

Posted on 15 September 2011

Turkey’s Foreign Direct Investment continues to climb

14 September 2011 - According to Mr Zafer Caglayan, the Turkish Economy Minister, Turkey’s FDI (Foreign Direct Investment) reached over 9 Billion USD in the 7 months to 31 July 2011 of which over 90% came from EU member states. This figures compares with 4.5 Billion USD for the same period...

Posted on 14 September 2011

Turkey’s GDP growth up

12 September 2011 – The latest figures from Turkstat (Turkish Statistical Institute) shows Turkey’s GDP increased to 203 Billion USD in the second quarter of 2011, a 8.8 percent increase over the same period in 2010, whereas the international finance markets had been expecting around 6.5 percent for Q2 in...

Posted on 12 September 2011

Turkish Government opens new trade offices in UK

6 September 2011 – Turkey is to open new offices in Birmingham and Edinburgh reflecting Turkey’s decision to boost exports and trade between UK and Turkey and encourage UK's investment into Turkey. Commenting on the new offices, Mr Yuksel Akca, Chief Commercial Counsellor at the Turkish Embassy in London, said...

Posted on 06 September 2011

Merrill Lynch Predicts Strong Growth in Turkey over next 10 Years

In a new report, investment banking giant Merrill Lynch predicts that Turkey will be the fastest growing economy in the EMEA region -- Europe, Middle East and Africa -- the coming 10 years, with fellow emerging markets South Africa and Saudi Arabia not far behind. "Based on an analysis of...

Posted on 02 September 2011

Economic Minister Reveals Special Economic Zones Plan for Turkey

Turkey is to do away with the current "free zones" in favour of a new system of "Economic Free Zones" according to Minister of Economic Zafer Caglayan. According to Caglayan the reason for rethinking the incentivised zones was to better equip them to tackle the country's raging current account deficit....

Posted on 25 August 2011

Foreign Investment in Turkey Soaring in 2011

We have long known that volatility in the global economy, combined with the eurozone debt crisis and sluggish growth in most established markets was driving growth in investment to Turkey and other emerging markets. But few would have believed it would be driving quite as much growth as we now...

Posted on 18 August 2011