12/14/2011

WSJ: Turkey, Eurasia’s rising tiger

Hurriyet - The Turkish economy’s high growth rate in the third quarter, when the EU’s debt-ridden economies post little or no growth at all, has once again made it to the headlines of the world’s leading economy and business newspapers. An article by the US finance daily The Wall Street Journal’s (WSJ) on Turkey’s 8.2 percent growth that has beaten market expectations, drew attention to the country’s success at a time of financial and political turmoil in its region.

The newspaper echoed a previous article on Turkey’s first quarter growth, when it had likened the country to a “rising tiger”. The recent article cited Turkey’s underscoring of its well-deserved reputation by achieving its tenth successive quarterly expansion.

Providing opinions of market analysts and economists, “Turkey’s growth resembles Asian-style growth dynamics,” the article read, describing the country’s 9.6 percent growth in the first nine months of the year: the world’s highest for the period.

Turkey grew over 8.9 percent in 2010, becoming one of the fastest growing economies in the world. The country has also achieved very high rates of growth in the first and second quarters of 2011, 11.6 percent and 8.8 percent, respectively.
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