1/31/2011

Turkey’s growth to outpace Eastern Europe

Hürriyet - The European Bank for Reconstruction and Development (EBRD) has predicted that Turkey’s strong growth will continue in 2011, leaving the Eastern European countries behind in growth rates.

“The strong growth observed in 2010 is likely to continue in 2011,” read the report’s chapter on Turkey, detailing that increasing domestic demand is the factor driving the country’s growth. “Although Eastern European countries have entered a course of recovery, their growth rates are expected to be lower than that of Turkey,” said the report. The 29 EBRD countries’ average growth is around 4.2 percent, while Turkey will grow by 4.5 percent according to government estimates.
turkey; economic growth; growth performance; ebrd; eastern europe

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