Schroder Salomon Smith Barney Forecasts Turkey To Complete 2002 With 6.3 Percent Growth

Saturday, December 14 2002 @ 05:34 am UTC

LONDON/ANKARA - International investment consultation organization Schroder Salomon Smith Barney (SSSB) forecast on Wednesday that Turkey will complete 2002 with 6.3 percent of growth. According to economic analysis of SSSB, the growth rate of Turkey increased as exports climbed 16 percent annually. Thus, SSSB revised upward its Gross Domestic Product (GDP) forecast for year-end to 6.3 percent. Turkish economy grew by 7.8 percent in the third quarter 2002 which comprises July, August and September months when compared with the same quarter of last year. State Minister Ali Babacan had also said that the predictions about growth rate which is expected to be six percent in 2002 gained strength.

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