1/6/2011

HSBC: Turkey to reach “investment grade” status this year

Dunya - Emerging countries will see their contribution to the global economy surge in the near future and will make up the list of world’s top 30 economies by the year 2050, according to a HSBC Global Research report.
The report forecasts Turkey’s GDP exceeding over USD 2 trillion in 2050, making the country the 12th largest economy in the world. Turkey is also expected to reach “investment grade” status in the new year, the report states.

The report estimates Turkey’s GDP increases until 2050 at 5.3 percent between 2010-2020, 4.7 percent between 2020-2030, 4 percent between 2030-2040 and 3.5 percent 2040-2050. Turkey’s steady growth will be backed by an increasing population, unlike the looming demographic decline in many of the developed countries, and the country will have no shortage of a labor force, the report stated.
turkey; economic growth; turkey gdp; investment grade; hsbc global research