BronzePlaque
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I dont understand why some of you guys are emotional about this article..Turkey can NOT maintain high growth rate( %7,5-%8) while her biggest import/export market i.e. Europe is in crisis..David Goldman`s title is flawed, i agree on that one..Nothing collapses but he states some accurate facts..If Turkey can manage to hold growth rate around %4-5 its more than enough for us..Take a look at Babacan`s speech;
Babacan: Turkeys economy likely to grow by 4 percent in 2012
Speaking at a meeting held by the Independent Industrialists and Businessmens Association (MÜSİAD) on Thursday, Deputy Prime Minister Ali Babacan said the Turkish economy is expected to grow by 4 percent in 2012.
Babacan evaluated the countrys economy in 2011 and talked about 2012s economic outlook. He said the pace of growth is predicted to decline slightly in 2012, but the government forecasts a 4-percent growth for the economy. The deputy prime minister said the prediction is based upon the assumption made on the straightening of European financial crises and depends on improvements that will hopefully take place in the European economy. He added, If the assumption proves otherwise, the 4-percent growth rate could be revised.
He noted that some perceive the drop to a 4 percent growth rate from the 7.5 percent to 8 percent of previous years as a tightening of the economy, but he explained the rate is actually what has been added to the top of last years figure. He underlined that 4-percent growth in 2012 would mean improvements have been made to the economy, in addition to the improvements made in 2011. Babacan mentioned inflation is currently at a rate of 10.45 percent, but the government expects this rate to decline. A 5 percent rate of inflation is an achievable target, he said. Babacan said high inflation figures are only temporary, and the rate will stabilize in the near future. Inflation is not affected by monetary policies, but the developments in exchange rates, rise in energy prices, additional taxes placed on some imported textile goods as well as an increase in tobacco prices have all contributed to rises in retail prices and influenced inflation, he said. The deputy prime minister said 2011 is expected to have concluded with a predicted 25 percent increase in the amount of loans made, and if this rate had been 35 percent, it could have caused a current account deficit (CAD) that was at least 4 percent to 5 percent higher, which would pressure the economy in difficult times.
Babacan mentioned that export rates in 2011 were the highest in the republics history, but he stressed the country needs to reduce its dependence on European markets and expand to markets in other parts of the world. He said exporters are expected to perform even better in 2012.
The Turkish Statistics Institute (TurkStat) announced on Tuesday that Turkeys annualized inflation of consumer prices for the year 2011 was 10.45 percent, marking the highest figure since November 2008. Having remained below a level of 5 percent in the first quarter of 2011, inflation began a speedily rising trend starting in the second quarter. Central Bank Governor Erdem Başçı said on Monday they expect inflation to fall starting from May 2012 in line with a slowdown in Turkeys domestic demand growth.
Babacan: Turkey
Babacan: Turkeys economy likely to grow by 4 percent in 2012
Speaking at a meeting held by the Independent Industrialists and Businessmens Association (MÜSİAD) on Thursday, Deputy Prime Minister Ali Babacan said the Turkish economy is expected to grow by 4 percent in 2012.
Babacan evaluated the countrys economy in 2011 and talked about 2012s economic outlook. He said the pace of growth is predicted to decline slightly in 2012, but the government forecasts a 4-percent growth for the economy. The deputy prime minister said the prediction is based upon the assumption made on the straightening of European financial crises and depends on improvements that will hopefully take place in the European economy. He added, If the assumption proves otherwise, the 4-percent growth rate could be revised.
He noted that some perceive the drop to a 4 percent growth rate from the 7.5 percent to 8 percent of previous years as a tightening of the economy, but he explained the rate is actually what has been added to the top of last years figure. He underlined that 4-percent growth in 2012 would mean improvements have been made to the economy, in addition to the improvements made in 2011. Babacan mentioned inflation is currently at a rate of 10.45 percent, but the government expects this rate to decline. A 5 percent rate of inflation is an achievable target, he said. Babacan said high inflation figures are only temporary, and the rate will stabilize in the near future. Inflation is not affected by monetary policies, but the developments in exchange rates, rise in energy prices, additional taxes placed on some imported textile goods as well as an increase in tobacco prices have all contributed to rises in retail prices and influenced inflation, he said. The deputy prime minister said 2011 is expected to have concluded with a predicted 25 percent increase in the amount of loans made, and if this rate had been 35 percent, it could have caused a current account deficit (CAD) that was at least 4 percent to 5 percent higher, which would pressure the economy in difficult times.
Babacan mentioned that export rates in 2011 were the highest in the republics history, but he stressed the country needs to reduce its dependence on European markets and expand to markets in other parts of the world. He said exporters are expected to perform even better in 2012.
The Turkish Statistics Institute (TurkStat) announced on Tuesday that Turkeys annualized inflation of consumer prices for the year 2011 was 10.45 percent, marking the highest figure since November 2008. Having remained below a level of 5 percent in the first quarter of 2011, inflation began a speedily rising trend starting in the second quarter. Central Bank Governor Erdem Başçı said on Monday they expect inflation to fall starting from May 2012 in line with a slowdown in Turkeys domestic demand growth.
Babacan: Turkey
söyleyin la.
were national infrastructure projects during the 1970s in Taiwan. The government believed the state lacked key utilities such as highways, seaports, airports, and power plants. Moreover, Taiwan was experiencing significant effects from the 1973 oil crisis. Therefore, to upgrade the industry and the development of the country, the government planned to take on ten massive building projects. They were proposed by the Premier Chiang Ching-kuo, beginning in 1974, with a planned completion by 1979. There were six transportation projects, three industrial projects, and one power-plant construction project, which ultimately cost over NT$300 billion in total.
