Business in Turkey expect at least four percent growth in 2012

Turkey’s leading businesses have said that they are expecting the Turkish economy to grow at least four percent in 2012.

The figure of four percent goes against the 2.5 percent growth that the International Monetary Fund (IMF) predicted that the Turkish economy would have in 2012. This figure has been called unreliable and unrealistic by the businesses in Turkey.

One of the businesses in Turkey, Koc Holding, expects the economy to figure far better than the estimates of the IMF. Koc Holding CEO Mustafa Koc, said: “We expect the economy to expand by at around four to five percent in 2012 compared to this year.” The Turkish economy has been the fasted growing economy in the first half of 2011, and many have been critical of the IMF for seemingly ignoring the growth potential that Turkey possesses.

Turkish Foreign Economic Relations Board Chairwoman, Rona Yircali also backs Turkey to beat the 2.5 percent growth stated by the IMF. Yircali said: “This is a very modest target even if we face some unprecedented developments in global markets.”

Business in Turkey is currently booming. Many businesses are investing in the Turkish market. Turkey hopes to become one of the top 10 economies by 2023, should this happen, expect more and more businesses and more and more profit to come out of Turkey.

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