9/15/2010

Turkey’s economy surged in Q2

Wall Street Journal - Turkey posted double-digit economic growth in the second quarter. Turkey’s Minister of Finance Mehmet Simsek cited Tuesday's growth figures—gross domestic product rose 10.3 percent in the second quarter compared with the same period of last year, and by 3.7 percent quarter on quarter, according to official statistics—as evidence that Turkish fundamentals are good.

The figures were boosted by a 32 percent jump in private investment and strong domestic consumption. The data returned Turkey's economy to its peak before the global financial crisis and prompted many economists to raise their forecasts for Turkey's 2010 growth to as much as 7 percent.
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turkey; economic growth; mehmet simsek; second quarter; growth forecast