Turkey’s economy continues to rise

Published 28.11.2012 10:05
Updated 28.11.2012 10:08

Turkey has become the growth champ of the Organization for Economic Cooperation and Development (OECD) biannual outlook report.

The OECD report, which was released yesterday, announces a 4.1 percent growth prediction for Turkey in 2013, which is practically triple that of the organization's average outlook for the 34-member OECD area, which includes most of the world's most advanced economies.

This estimation is also higher than the four percent target designated by Turkey's Mid-Term Program (OVP). According to the Mid-Term Program released by the government in October, Turkey's Gross Domestic Product (GDP) is expected to grow by 3.2 percent this year, four percent next year and by five percent in 2014.

Turkey's outlook places the country right behind China, Indonesia, India and Brazil in terms of growth expectations.

According to the OECD report, Turkey's GDP is expected to grow by 2.9 percent this year, by 4.1 percent next year and by 5.2 percent in 2014.

OECD's inflation outlook for Turkey was 9.1 percent for this year, 6.9 percent for next year and 6.1 percent for 2014.

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