Economist: Turkey Sprang

In The Economist, in the evaluation under the section where the data about the performances of the countries were published, the developments
experienced in the Turkish economy from 2001 till today were provided.

The column gave place to the information that the inflation rate in Turkey was reduced from its level of 60% in 2001 to 8% and the Turkish economy sprang. It was drawn attention to the following points: Turkish economy overcame the crisis and entered a speedy growth process.

The inflation went down to one-digit for the first time since 1972, however the unemployment is at a very high level. According to the OECD reports, the country has a very high debt. Moreover, the public sector works inefficiently and there is an unregistered economy in the country. If these problems are overcome, Turkey will grow over 7% per year according to the OECD estimates. If Turkey receives a negotiation date from the European Union Council on December 17, she will advance speedily on the way to overcome her problems.

With the Turkey Report prepared by the Economic Unit of Intelligence (EUI) at the beginning of 2004, The Economist had drawn attention to the continuity of current deficit and maintained that devaluation could happen.