Turkey’s GDP in PPP rises by factor of 2.5 in 15 years

Today’s Zaman - A set of figures released by the International Monetary Fund (IMF) has shown that Turkey has been among the fastest growing economies of the world in terms of purchasing power parity (PPP) over the last 15 years. The figures, which were prepared for 28 countries, showed that Turkey was ranked eighth in the list of countries whose gross domestic product (GDP) enjoyed rapid growth between 1994 and 2009 by increasing its GDP from USD 352.1 billion to USD 869.1 billion in the given period despite several severe crises in 1995, 2000 and 2001 and the most recent blow of the 2008 global economic meltdown. Turkey’s annual average growth rate in current prices was 6.2 percent. Furthermore, according to IMF’s estimates, Turkey’s GDP will reach USD 1.13 trillion by 2014.