Sabah - Turkey’s economic growth will be double that of the European average, according to IMF’s Regional Economic Outlook: Europe report. The IMF predicts that Turkey will achieve GDP growth of 7.8 percent, while the European average growth is expected to be 2.3 percent.
The report states that growth in the emerging countries of Europe, including Turkey, was driven by exports and by lowering the supply constraints to credit growth. The IMF’s Consumer Price Index for Turkey remained at the previously forecasted levels of 8.7 and 5.7 for the years 2010 and 2011 respectively.
According to the report, having faced the deepest recession in its post-war history, Europe will continue to recover slowly, with 2.3 percent this year and 4.6 for 2011.