The economic news emerging from Turkey this week shows positive signs of recovery that will continue to grow from strength to strength as the current account deficit has fallen over the past few years and a steady decline in inflation could be seen.
The ratio of public debt to GDP remains low, but Mr Parker, MD of International Credit Rating Agency Fitch Ratings, spoke about the deficit saying it was ´very interesting´. He went on to mention that ´we expect the decline in inflation in Turkey to be accelerated in the coming months with base effects. The improvement Turkey has seen deserves to get attention´.
Whilst many global economists agree that the news is encouraging and that there is definite potential, there is still a concern over the performance in terms of administration. The Turkish government and global markets have welcomed the news, and with Turkey´s own economists continuing to work on the administration, the hope is that it won´t be long before Turkey´s economy will be amongst the top ten in the world.