Turkey's economy and financial markets have continued to develop and stabilise in the last five years. Inflation rates of around 80% during the early 2000s have dropped to single-digit figures in the last two years and political uncertainty has subsided following the double elections in 2007. Despite negative factors such as high interest rates of around 17%, an unemployment rate of around 10% and the large external and current account deficit, the Turkish economy continues to have one of the strongest GDP growth rates in the world (5-6% every year). Indeed, the Turkish economy is now the 17th largest on a global scale and is expected to be in the top 10 by the year 2020.
Premium subscriber content – please log in to read more or take a free trial.
