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Turkey

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Turkish Economy
1.       catwoman
8933 posts
 30 Sep 2004 Thu 11:21 pm

Turkey's dynamic economy is a complex mix of modern industry and commerce along with a traditional agriculture sector that in 2001 still accounted for 40% of employment. It has a strong and rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, and communication. The most important industry - and largest exporter - is textiles and clothing, which is almost entirely in private hands. In recent years the economic situation has been marked by erratic economic growth and serious imbalances. Real GNP growth has exceeded 6% in many years, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, and 2001. Meanwhile, the public sector fiscal deficit has regularly exceeded 10% of GDP - due in large part to the huge burden of interest payments, which accounted for more than 40% of central government spending in 2003. Inflation, in recent years in the high double-digit range, fell to 18.4% in 2003. Perhaps because of these problems, foreign direct investment in Turkey remains low - less than $1 billion annually. In late 2000 and early 2001 a growing trade deficit and serious weaknesses in the banking sector plunged the economy into crisis - forcing Turkey to float the lira and pushing the country into recession. Results in 2002-03 were much better, because of strong financial support from the IMF and tighter fiscal policy. Healthy growth is likely to continue through at least the first half of 2004.

2.       admin
753 posts
 01 Oct 2004 Fri 03:21 am

Turkish money (Turkish Lira) is currently the least valuable money in the world There has been high inflation for many years and the governments never removed zeros from the currency. 1 US Dollars is now around 1,500,000 Turkish Liras. Since the economy is going well and inflation rates are at the lowest of I've ever known, however, 6 zeros will be removed at the end of this year. With the current adjustment 1USD will be around 1,5TL.

3.       Mr.Thunder
31 posts
 20 Aug 2011 Sat 11:33 pm

These are very old assessments.  The Turkish economy is very strong now.

Turkey´s unemployment rate and major economic indicators are better then those of the most European countries.

 

 

 

4.       BIGJOENOBODY
1 posts
 25 Aug 2011 Thu 10:55 pm

 

Quoting Mr.Thunder

These are very old assessments.  The Turkish economy is very strong now.

Turkey´s unemployment rate and major economic indicators are better then those of the most European countries.

 

 

 

 

that could be because this is a 7 year old thread...

 

5.       si++
3785 posts
 26 Aug 2011 Fri 11:52 am

Well,

 

If you are really curious about Turkish economy, the following page might be a good starter:

http://en.wikipedia.org/wiki/Economy_of_Turkey

 

From that page we can note that she has a big deficit as far as exports and imports are concerned. That is an indicator more or less that Turks do not produce as much as they consume. So how can they continue with such a deficit over the years really? The answers they have a huge stock of debts (as an individual or company or state). Yes we are happy consumers, we spend without earning really. It will come to an end one day. When? We will wait and see.

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