Turkish growth fuels inflation fears

Figures released on the 31 March 2011 revealed that Turkey’s economy boomed in the last quarter of 2010, with year-on-year growth of 9.2% outstripping forecasts and fuelling fears that the central bank would have to take tougher measures to cool inflationary pressures.

Gross domestic product grew 8.9 per cent over the year as a whole, making Turkey one of the world’s fastest-growing economies, with the expansion driven largely by private sector consumption and investment.

The figures were seen to bolster the ruling Justice & Development (AK) Party, which has presided over a period of unprecedented economic stability and wou;d trumpet its record on growth in the run-up to elections in June.

Turkish Review, Vol.1, No.2, Jan-Feb 2011: Future bright for Turkish economy after 2010 recovery http://www.turkishreview.org/tr/newsDetail_getNewsById.action?sectionId=360&newsId=223034

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