Turkey: Finance / General Info

GDP Growth

In 2007, with 658,756 million dollars the Turkish economy became the sixteenth biggest economy among 30 OECD countries. With the country’s inflation rate stabilizing under 10% the GDP per capita kept on increasing to 9,333 US Dollars by 2007.

The real GDP rose by 4.5% in 2007. As a result, the cumulative rate of real GDP growth reached 40% in the past six years, marking this period as the longest stretch of uninterrupted growth in Turkey’s economic history.

Inflation

As a result of tight fiscal policies and prudent monetary policies the inflation has declined from an average of 70.4% in the period of 1993-2002 to single digit rates. The 7.7% reading of the consumer price index in 2005 was the lowest over three decades. The last six years have been witness to the decline in the volatility of inflation meaning that CPI increase rates have been constantly single digit numbers with the last yearly reading being 8.4% in 2007.

FDI

In the last sentence: Turkey's 9.8 billion dollar FDI attraction has more than doubled resulting in 20.1 billion dollars in 2006 and in 22.2 billion dollars in 2007 being invested in the country.