Türkiye’s economy grows 3 percent in first quarter, beats expectations

Hurriyet – Türkiye’s economy continued on its growth path for the 14th consecutive quarter, expanding by 3 percent in the January-March period of 2013, according to a statement by the Turkish Statistical Institute (TurkStat).

Exceeding the expected 2.3 percent, the 3 percent year-on-year growth rate in the first quarter shows that the Turkish economy switched to a growth track after gaining its balance last year, commented the Minister of Finance Mehmet Simsek on the newly released data. “Türkiye’s annual growth will reach 4 percent as per the government’s medium term program..”, Simsek added.

Türkiye’s annual GDP growth stood at 2.2 percent in 2012, following impressive growth rate figures of 9.2 and 8.5 percent in 2010 and 2011 respectively.

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