3/28/2008

Turkish economy hits record $651 billion in 2007

Turkish Daily News - Turkey's gross domestic product (GDP) in 2007 reached $651 billion, in light of a new calculation system, Deputy Prime Minister Nazım Ekren said in Ankara. Speaking at a meeting organized for the 11th anniversary of the Competition Authority, Ekren said national accounts due to be announced Monday will show that per capita income was about $9,000. Noting that the government's target for 2013 is per capita income of $10,000, Ekren said in light of the 2007 figure, this target might be revised upward. For the last five years, the Turkish economy has been growing 6.5 to 7 percent annually, Ekren said. "Poverty levels have decreased, while foreign capital inflow increased" he cited. “The period 2002-2007 has been one of normalization for Turkey... Structural reforms on the macro level, plus competition-enhancing micro reforms in goods and services sectors, will help us reduce inflation” Ekren said.

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