7/8/2009

“Turkey will recover early from crisis and will see fast growth”

Sabah - During the annual meeting of the Economic Dynamics Association, two Nobel Prize winners, Chicago University Professor Robert Lucas and Arizona State Professor Edward Prescott, expressed their opinions on the recovery of the Turkish economy. Lucas is optimistic about the Turkish economy and expressed that, despite the recession seen in the first quarter of the year, rapid economic growth will be achieved depending on the recovery of markets that Turkey trades with. “That is when Turkey will embark upon a period of swift economic recovery” stated Lucas. For his part, Arizona State Professor Edward Prescott also expressed that he is “optimistic” about Turkey, even though the country felt the effects of the decreased demand from Europe during the crisis.