Econ-Gr: +11%, St-Xchg: +100%

[ekrem]

- Econ.Growth at fastest pace since 6 years
- Jan-March growth = 6%
- April-June growth = 11%
- IMF expects 2010 growth = 6.3 %
- within G-20 second highest growth after China
- Stock exchange doubled since Nov 2008, when Lehman Brothers went bankrupt
- Survived crisis without bailing out any Banks
- jobless rate 12 month ago = 16.1 %, now decreased to 14.4 %. 5-year average = 11.1 %

Turkey Growth Surge Claws Back Most of Output Lost After Lehman Collapse - Bloomberg

 

[uscitizen]

Ya ya ya. Bring on the jobs, until we have them we have nuthin in a consumer based economy.

How much of those numbers are due to unemployment benefits? I'd say virtually every dollar given in unemployment benefits rolls right back into the economy within 2 weeks.

 

[Baruch Menachem]

Since this is Ekrem, he is talking about Turkey.

Which during the recent economic crisis has been one of the intellectual stars of Europe.

Greece, Portugal and Spain are circling the drain.

The other big star this past year has been Poland.

I think Ekrem is enjoying a bit of Schadenfruede because so far this year the biggest loser has been Greece.

 

[ekrem]

Since this is Ekrem, he is talking about Turkey.

Which during the recent economic crisis has been one of the intellectual stars of Europe.

Greece, Portugal and Spain are circling the drain.

The other big star this past year has been Poland.

I think Ekrem is enjoying a bit of Schadenfruede because so far this year the biggest loser has been Greece.

German Magazine, Stern:
Within OECD, only Turkey did not bail-out banks and gave state-securities for financial markets during the Crisis.
Wirtschaftspartner Türkei: Der gesunde Mann am Bosporus - Wirtschaft | STERN.DE



Financial Times:
Many European countries have reason to envy the rate of economic recovery expected in Turkey this year.
However, the sunny outlook cannot disguise the modest progress that Turkey has made in shrinking the size of its black, or unregistered, economy.
While an estimated 53 per cent of the labour force was unregistered in 2004, about 44 per cent dodged the taxman in 2009.
FT.com / Reports - Black economy: Employers still slow to register

Turks must legalize their shadow-activities in economy so State collects more money and we all can benefit through improved State services by increased budget spending and utilize that money on instruments of Foreign Policy.