EU expects 4.7 percent growth for Turkey in 2009

European Union expects Turkey's economic growth rate will be around 4.7 percent in 2009, up from 4.3 percent of growth expectations in 2008.

EU expects 4.7 percent growth for Turkey in 2009
European Commission's spring 2008 report on economic forecast said "due to its sizeable financing needs, Turkey may be more vulnerable to the current financial turbulence than most EU-Member States or other candidate countries."

The report stressed Turkey should be able to increase export growth -in particular in tourism-while the tight monetary and fiscal policy mix will start supporting the disinflation process, The New Anatolian reported.

"Overall, economic activity is expected to rise only gradually from 4.3 percent in 2008 to 4.7 percent in 2009," it said.

The report also forecasts that unemployment rate would be around 10 percent in 2008 and fall to 9.8 percent in 2009, adding that "as from mid-2008, inflationary pressures are expected to fall slowly. 12-month consumer price inflation is expected to fall below 8 percent by the end of 2008 and to 6 percent at the end of 2009."
Last Mod: 29 Nisan 2008, 16:22
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