Turkey economy second fastest growing in the world

  Date posted: 11th of May 2012

Turkey flourishing economy continues to show stellar growth as statistics released showed that Turkey had the second largest growing economy in the world in 2011, behind only China.

The statistics show that Turkey grew 8.5 percent in total in 2011, with Turkey’s GDP reaching $772.2 billion dollars while per capita income rose to $10,444.

During the 4th quarter of 2011, Turkish economy growth was measured at 5.2 percent, signalling Turkey’s desire to stabilise growth into a manageable size for future stability of the economy. Predictions put economic growth at 5 percent for 2012 too.

Prime Minister Recep Tayyip Erdogan praised the economy and stated that the constant growth was due to confidence and stability. Erdogan said that he anticipates more foreign direct investment into Turkey as more investors look to invest.

Deputy Prime Minister Ali Babacan summed up the growth by saying: “Turkey’s 8.5 percent 2011 growth rate is a very positive result when you see that so many countries in Europe are struggling to even achieve 1 percent growth.”

The rise of the economy is great for Turkey investors. With the economy doing so well, investors are safe in the knowledge that their investment can see great capital gain over the years and earn fantastic rental yields every year. As Europe struggles to even gain 1 percent growth, the Europe market suffers while Turkey gains.