BBF Partners.com

The Turkish Economy is at the Beginning of
a New and Long Term Growth Cycle

The Turkish economy has gone through a fundamental transformation over the past several years, ushering in a new era of reforms and opportunity. The collapse of the Turkish economy in 2001, the push to join the EU and the broad range of legal, accounting and regulatory changes (including those that have been drafted and are in the process of being implemented), have launched a new era in the economic cycle and potential of Turkey. Moving beyond the traditional problems that have limited the growth of the Turkish economy, this new and long term cycle of expansion is characterized by progress in the following areas:

more disciplined public spending
lower inflation (in stark contrast to years of hyper-inflation)
a stronger currency
lower interest rates
the start of the process of rationalizing unprofitable enterprises in the real economy
increased output growth (elevating Turkey's position in relation to other OECD countries)
stabilized capital markets with positive momentum