9/12/2008

Turkey more stable, Financial Development Index says

Turkish Daily News- The world's first “Financial Development Index,” launched by the World Economic Forum, or WEF, ranks Turkey 39th, among 52 countries. Published at the WEF Web site, the report targets to be “a comprehensive analysis of financial systems in 52 countries”. It puts the United States at the top spot, closely followed by Britain, while Germany is at the third spot. Turkey was badly hit by the 2000-2001 financial crises, but with the restructuring afterwards, it has become stronger and more stable, the report says. The country's strongest point is “business environment,” it notes. According to the WEF index, Turkey surpasses developing nations such as Brazil, Poland, Mexico and Argentina. Ranking 39th overall, Turkey stands at the 44th place in the “Institutional Environment” category, while ranking 32th in “Business Environment.”