Turkey Is Losing Momentum

BusinessEconomy ♦ Published: December 10, 2012; 23:32 ♦ (Vindobona)

Turkey´s economic growth begins flatten. In the third quarter, GDP growth only reached 1.6%.

Turkey Is Losing Momentum / Picture: © Vindobona.org

This year, Turkey wants to achieve a 3.6% growth rate. However, the goal becomes more and more unrealistic. In the first nine months, the growth rate only came at 2.6%. “I hope that the fourth quarter will bring higher growth rates.” Turkey´s Minister of Economics Cafer Caglayan said. The sudden slowdown is caused by the weak domestic demand. Moreover, exports to European countries…

Fast News Search