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Erdogan hails Turkish economic growth

Business Materials 30 December 2010 10:06 (UTC +04:00)

Turkish Prime Minister Recep Tayyip Erdogan has praised his country's growing economy, saying Ankara would end this year with a 6.8 percent growth rate, PressTV reported.

"All these figures are clear evidence of how a robust and dynamic economy Turkey has reached," Erdogan said on Wednesday, referring to earlier forecast which said Turkey's year-end growth figure will be around 8 percent.

The Turkish premier further noted that the country's economy grew 6 percent in the last quarter of 2009, Turkish Press reported.

However, the rate climbed to 11.7 percent in the first quarter of 2010 and 10.3 percent in the second quarter of 2010.

"This is fairly a striking growth performance when compared with bankruptcy news all around the world," Erdogan noted.

Turkey had become the number one most-rapidly growing country in Europe and the number four in the world, he pointed out.

The Turkish parliament on Sunday approved the budget for the next year. Budget expenses in 2011 were calculated as 312.5 billion Turkish liras (approx. 202.9 billion USD) while budget revenues were calculated as 279 billion Turkish liras (approx. 181.1 billion USD).

Turkey, with a population of 77 million, is ranked 17th in the world in terms of economic power and boasts one of the highest global growth rates.

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