10/30/2009

Growth of Turkish economy could beat expectations next year

Dunya - The Turkish economy could grow by more than the predicted rate of 3.5 percent next year, said Nihat Ergun, the Minister of Industry and Trade, adding that as tax revenues are expected to rise in line with economic growth, a tax hike is unlikely to be imposed for the coming year. Speaking to reporters, Ergun said that economic growth next year could reach around 4 percent and added that the government is not planning to increase tax rates or introduce new taxes for the coming year. Concerning a possible backup plan in case the crisis continues, Ergun stated that the Turkish economy started to recover as of March, with a rise in the capacity utilization rate and exports along with a decline in unemployment.

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