Turkey Economy Sees Growth
World Economy

Turkey Economy Sees Growth

While some emerging markets are facing sharp declines in growth and investment, Turkey is holding out, experts said, remaining both a growing economy, and a significant presence in global politics, they told Anadolu Agency on Friday.
“The Turkish economy should see growth in the third quarter, and will substantially recover in the fourth quarter,” forecast Bora Tamer Yilmaz, an economist with Ziraat Securities. Growth is forecast at 3% for the quarter by a number of economists.
The recovery in Europe will contribute significantly to Turkish growth this year, Standard & Poors said in a report published on Oct. 1.
Some emerging markets are facing “their fifth consecutive year of declining rates of growth”, warned Christine Lagarde, managing director of the International Monetary Fund in a speech on Thursday.
“This outlook is heavily affected by major economic transitions–namely, China’s transition to a new growth model and the normalization of US monetary policy–that are creating global ripple effects or spillovers and spillbacks,” Lagarde said.
The Institute for International Finance has said that, for the first time in nearly 30 years, more money is leaving emerging markets than entering them. The institute projected net outflows of $541 billion in 2015, according to a note published on Oct. 1 on its website.
Brazil and Russia are especially affected, and, indeed, are already in recession.  Malaysia is experiencing slow growth, forecast to hit only 4.5% in 2015, according to the Malaysian Finance Ministry. Growth in China is below 7% this year.
But the Turkish economy grew 3.8% in the second quarter, according to finance ministry statistics. Industrial production was up 0.3% in July, TurkStat said, and domestic demand was up 0.4% in the same month.
Lagarde pointed out in her speech that financial risk is high for many emerging markets, due to high levels of debt.


Short URL : https://goo.gl/zjHhD6
  1. https://goo.gl/gDM2G6
  • https://goo.gl/7uw8Zt
  • https://goo.gl/ptCU0d
  • https://goo.gl/SfEVG2
  • https://goo.gl/BhFgof

You can also read ...

ADB Forecasts India Growth at 7.3 Percent
The Asian Development Bank expects India’s growth to pick up...
Dow futures dropped more than 100 points in early trading, as traders returned from the long holiday  weekend to face fresh selling pressure for US stocks.
A six-day rebound in world stocks began to splutter on Tuesday...
Ghana Told to Cut High Agro Imports
The World Bank country director for Ghana, Henry Kerali, has...
Chinese ironworks are increasingly  using Australian ore, which has  a high iron content.
Global stock markets are down from their recent peaks and...
London-based Capital Economics expects the German economy to expand by 2.7% this year. This would be above the government’s  more conservative forecast of 2.4%.
The German economy is expected to improve in the next six...
Indonesia Criticizes Trump’s Protectionist Policies
Indonesia is foregoing billions of dollars on offer from...
Goldman Raises Red Flag Over US Gov’t Spending
US fiscal policy is headed for “uncharted territory.” That’s...
File picture of truckers in Buenos Aires during a demonstration last summer against the policies of Mauricio Macri.
The Argentine economy grew “close to 2.8%” last year, Guido...