Turkey can grow more than 3.5 % in 2010

Industry and Trade Minister Nihat Ergün said October 25 that the Turkish economy can grow by more than the predicted rate of 3.5 % in 2010 reaching about 4 percent. Ergün underlined that the government is not planning to increase tax rates or to introduce new taxes for the coming year since they predict a rise in the amount of taxes collected in line with expected economic growth. He also stated that the Turkish economy had started to recover from the crisis as of March, which can be seen through a rise in the capacity utilization rate and exports along with a decline in unemployment. The recovery process is continuing, he said.

In the past three months, there has been consistently positive economic data suggesting that a solid if gradual recovery is underway. This leads to a positive outlook for growth in the Turkish economy in 2010. 

Source: Hurriyet Daily

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