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Tag Archives: Economy

Turkish Economy Looking Good For Strong First Quarter Growth

Industrial output in Turkey was 18.1% higher this February than last, and in the opening two months of the year, 15% higher than the same period of last year. This followed on from an 12.1% year on year increase in output recorded in January, and was a 0.5% month-on-month increase...

Posted on 09 April 2010

Turkish Economy Rebounds Strongly from Recession

Turkey’s economic recovery is gathering pace and it won’t be a surprise if first-quarter figures show that output grew 10 percent or more from a year earlier, Deputy Prime Minister Ali Babacan said. Turkish manufacturers are building up stocks, reflecting their confidence in the economic outlook, and companies’ order books...

Posted on 03 April 2010

These are Important Times in the History of Turkey

These are important times for Turkey, historic even. A Turkey, not only standing on its own two feet without IMF assistance, but looking proficient in, and highly capable of, doing so for the long haul. Of course, negotiations have only been terminated in the past two weeks, but Turkey has...

Posted on 25 March 2010

Turkish Industrial Production in 12.1% Annual Growth in January – Turkstat

Turkish industrial output was up 12.1% year on year according to the latest data released by Turkstat. This compares to a growth of 1.5% in European Union industrial production over the same period. Calendar adjusted industrial production in Turkey increased by 16.1% year on year, and by 0.3% month on...

Posted on 12 March 2010

Turkish Economy to See Growth Boosted by New IMF Deal in 2010

The Turkish economy is predicted to grow by around 5% this year. A whole slew of analysts and brokers at investment funds, research groups and banks have forecast growth of between 4 and 7%, with 5.2% being the average forecast from the reports I have read. The International Monetary Fund,...

Posted on 14 January 2010

A Look Back at Turkey’s Economic News Week

This has been a big week for the Turkish economy, and to a certain extent, for the property market as well. Firstly the Central Bank kept the key interest rates unchanged for the first time since October 2008; with the overnight borrowing rate at 6.5% for the overnight rate, and...

Posted on 18 December 2009

Turkish Textile Industry Receives Record Orders – Clear Sign of Global Recovery

Turkey's textile industry has received record orders, in one of the clearest signs yet that the global economic recovery is underway. Yes, you are forgiven for thinking, what? And yes, you are right, record orders in the Turkish textile industry is the kind of headline you can easily skip right...

Posted on 17 December 2009

The Future is Bright, the Future is Turkey

Today further news emerged that the Turkish economy is firmly in recovery. The economy contracted 3.3% in the third quarter, which is a lot slower than in previous quarters. The annualised contraction for this year is now expected to be 6%. Also positive: the government has forecast 3.5% growth next...

Posted on 10 December 2009

Fitch Follows JP Morgan, Upgrades Turkish Currency on Stronger than Average Growth Forecasts

Yet another internationally respected financial outfit has bet on Turkey’s economy to recover faster from the downturn that the rest of the developing world. Yesterday saw Fitch upgrade Turkey’s long-term foreign currency rating by two notches to BB+ from BB-. The outlook on the ratings is stable. "The upgrade reflects...

Posted on 05 December 2009

Turkish Stocks Upgraded to Overweight by JP Morgan Chase & Co

Turkish stocks have been upgraded from neutral to "overweight" by major investment group JPMorgan Chase & Co. The group believes that the Turkish economy will recover faster than most emerging markets in 2010, though Turkish economy minister Ali Babacan's statement that a deal with the International Monetary Fund was on...

Posted on 03 December 2009