Turkish Premier Recep Tayyip Erdogan's AK Party won 50 percent of votes in general elections and this landslide result led to comments about Mr. Erdogan's hat-trick due to Turkey's ruling Justice and Development (AK) party gaining a third consecutive term.
Getting almost 50% support in parliamentary vote, and 326 seats in the 550-member parliament, Ak Party expanded its vote share from its 2007 poll win by more than three points.
When we analysis the reasons that made Mr. Erdogan successful we must look at his operations since the first term to date.
Ak Party and its leader Mr. Erdogan is indebted his victory implementing genuine policies during the last 8.5 years. There are various reasons in making hat trick of Ak Party in the leadership of Recep Tayyip Erdogan.
Up to a decade ago, the country experienced crisis with high-level inflation and interest rates and a frail currency.
After economic crisis experienced in February 2001 Turkey's economy had become very fragile, there was almost no confidence to attract foreign investors, too. That weak situation in the economy urged that time's coalition government made a decision to go to the snap election. It was November 3, 2002 when the snap election held. At the dawn of 4 November there was a new sunrise above the Turkey's horizons. The positive effects of the new era began to be seen in the markets. Since 2002 election to date the country experiences stability and ruling party has brought confidence for both domestic and foreign investors.
Since the first day, normalization and change process had begun in the every area in the country ranging from economy to democracy, rule of law. From that time Turkey has not caused the investors to escape, business places were not closing, opposite of those, in an increasing way the foreign direct investments have flowed into Turkey. Also Turkish investors have expanded their investments in a stabile way. Turkey's economy began to see positive developments since that time. Winds of change began to blow almost in every area.
Per capita income rose during Mr. Erdogan's ruling period. Huge investments have been carried out. The country has been enjoying a transformation in many areas. Shortly these productive implementations enabled Ak Party winning the third consecutive term.
Despite the global economic crisis which has been experienced across the world between 2008-2009, Turkey's economy did not see any crucial shake compared to the other European countries and thanks to the robust economic structure of the country the crisis was easily overcome in the shortest time.
Another important thing in the success of the ruling party is that Mr. Erdogan keeps his promises to his voters and he promised what he can be able to fulfill. So what he made in the past means a guarantee of the things to be made in the future.
Now third term has begun for the ruling party, in this period there are also significant projects some of them are being implemented, some of them will be launched and to be completed by order of them up to 2023, the centenary of the Turkish Republic.
In this term, in addition to the economic investments there are also reforms in constitution which has been waiting amendment for long years. All parts in Turkey accept the need to modernize the constitution, which was written three decades ago following a military coup.
Despite Ak Party increased its number of vote, it cannot get enough seats to amend the constitution by itself, because it requires two-third of majority of the total seats in the parliament. Mr. Erdogan says he would look for consensus with a wide participation representing all parts of the society.
If the Turkish people see the concrete steps in the promises and solutions in the unsolved problems, will give vise to Mr. Erdogan for the fourth consecutive term.
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17 Haziran 2011 Cuma
14 Mayıs 2011 Cumartesi
First step should be taken by LDCs (Part 2)
Click here for the part 1
At the meeting in Istanbul, the UN Secretary General Ban Ki-moon has urged the leaders of the world's poorest countries to agree on a common position and sent a strong political message to the rest of the world on the importance of investing in the least developed countries to eradicate global poverty.
Mr. Ban called for the building of productive capacity and the expanding of opportunities for decent employment for men and women in LDCs.
It means expanding the provision of essential services - education, health, infrastructure and social safety nets, especially for nutrition security.
After this LDCs will try to attract investors to their countires Of course, to make investment is important which will play a remarkable role to eradicate their main problems, but the situation is also important to fulfill this. The UN should also urge to set up a suitable situation and democracy to enable those countries to develop and to reach a peaceful condition, as well as a livable humanitarian condition.
The main point that is advocated the developed countries to support the least-developed countries both politically and economically to make a fairer and more livable world.
Now the meeting in Istanbul, where continents and cultures connect and converge, is seen a new fortune to be remedy for the LDCs. Istanbul is also seen to build a strong bridge to enable the least fortunate and most vulnerable members of these countries to cross to the land of prosperity and security.
At the meeting in Istanbul, the UN Secretary General Ban Ki-moon has urged the leaders of the world's poorest countries to agree on a common position and sent a strong political message to the rest of the world on the importance of investing in the least developed countries to eradicate global poverty.
Mr. Ban called for the building of productive capacity and the expanding of opportunities for decent employment for men and women in LDCs.
It means expanding the provision of essential services - education, health, infrastructure and social safety nets, especially for nutrition security.
After this LDCs will try to attract investors to their countires Of course, to make investment is important which will play a remarkable role to eradicate their main problems, but the situation is also important to fulfill this. The UN should also urge to set up a suitable situation and democracy to enable those countries to develop and to reach a peaceful condition, as well as a livable humanitarian condition.
The main point that is advocated the developed countries to support the least-developed countries both politically and economically to make a fairer and more livable world.
Now the meeting in Istanbul, where continents and cultures connect and converge, is seen a new fortune to be remedy for the LDCs. Istanbul is also seen to build a strong bridge to enable the least fortunate and most vulnerable members of these countries to cross to the land of prosperity and security.
First step should be taken by LDCs (Part 1)
The forth meeting of the poorest countries was held in Istanbul, Turkey. The aim of the meeting is to find solution to the Least Developed Countries in order to eradicate their problems such as poverty, strife, unemployment. The previous one was held in Brussels in 2001.
The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in 1971.
While there were 25 countries in 1971, the number of least developed countries has reached by 48 to date. Since the first meeting of LDCs were discussed in 1981 seemingly there is no change in the problems, on the contrary number of the countries has increased gradually by 2011. This means everything is not going on well in terms of the LDCs.
These countries’ most crucial problem results especially from their structural problems which must be firstly exerted to solve by these countries.
Some of the issues stated in the gathering were corruption and lack of transparency as major problems of the least developed countries, these problems blocked the way to peace and long-term investments as well.
Some of them suffer from having no basic humanitarian rights. Lack of housing standards, education and unemployment problems are huge handicaps of these countries, too.
Per capita income for daily living is one or two dollars.
In solving these problems of the poorest countries, the big accountability falls on the shoulders of administrations, foremost leaders and civil society organizations of these countries.
When we scrutinize the structures of these countries, as if they could not be able to pass to normalization and bring themselves into suitable conditions for development in the globalizing world.
Not being able to accomplish their democratization process, in addition lack of harmonization with the world are the another hindrance in front of the LDCs in order to graduate from the group.
Although there is another initiative that was set up to relieve the poor countries called the Millennium Development Goals. The initiative has been determined at the beginning of this century to alleviate the world's poorest countries by 2015. But in this direction, the sufficient advancement has not been taken to date, according to the announcement of the UN. The Goals are advancing on its way and even some positive developments have been taken, seemingly it is not enough to accomplish in time.
Click here for the part 2
The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in 1971.
While there were 25 countries in 1971, the number of least developed countries has reached by 48 to date. Since the first meeting of LDCs were discussed in 1981 seemingly there is no change in the problems, on the contrary number of the countries has increased gradually by 2011. This means everything is not going on well in terms of the LDCs.
These countries’ most crucial problem results especially from their structural problems which must be firstly exerted to solve by these countries.
Some of the issues stated in the gathering were corruption and lack of transparency as major problems of the least developed countries, these problems blocked the way to peace and long-term investments as well.
Some of them suffer from having no basic humanitarian rights. Lack of housing standards, education and unemployment problems are huge handicaps of these countries, too.
Per capita income for daily living is one or two dollars.
In solving these problems of the poorest countries, the big accountability falls on the shoulders of administrations, foremost leaders and civil society organizations of these countries.
When we scrutinize the structures of these countries, as if they could not be able to pass to normalization and bring themselves into suitable conditions for development in the globalizing world.
Not being able to accomplish their democratization process, in addition lack of harmonization with the world are the another hindrance in front of the LDCs in order to graduate from the group.
Although there is another initiative that was set up to relieve the poor countries called the Millennium Development Goals. The initiative has been determined at the beginning of this century to alleviate the world's poorest countries by 2015. But in this direction, the sufficient advancement has not been taken to date, according to the announcement of the UN. The Goals are advancing on its way and even some positive developments have been taken, seemingly it is not enough to accomplish in time.
Click here for the part 2
28 Şubat 2011 Pazartesi
Turkey, an emerging star
Within the last eight years Turkey's economy has progressively showed a great performance. During this period, Turkey's economy has achieved a robust structure and shown as an emerging star across the world. Thanks to the exact, determined, proactive policies and having committed to the structural reforms and fiscal discipline Turkish economy has attained its current healthily structure.
Despite the global financial crisis, which is evaluated as the biggest one after the Great Depression lasted until the late 1930s or early 1940s, Turkey's economy could be able to cushion against challenges of the global crisis. Previously taken measures and smart management have played significant role in this success.
Monitoring these positive developments in the Turkish economy, the foremost economies' actors of the world has been lauding Turkey's progress and show Turkey as a global power. Having passed through a crucial test during the crisis without stumbling, Turkish economy has become an example economy for the world.
When we look at the positive developments on the economy during the past eight years, Turkish economy has enjoyed outstanding advancements. Turkey's ruling party has been able to achieve plunging the rates of interest and inflation down from the double digits to the single level in this period.
Meanwhile, Turkey successfully eliminated six digits from the Turkish currency, so TL was released from the banknotes having many zeros and has won valuation. Turkey has also managed the Turkish lira (TL) to pose as a strong rival against the US dollar and the euro in the last eight years.
In recent years, prosperity is gradually increasing in Turkey and low-income groups do get their share from that prosperity. It is observed that there is a significant surge in purchasing power.
Based on data collected by the Turkish Statistical Institute, the Organization for Economic Cooperation and Development and the State Planning Agency, national income per capita, which used to float around $3,000 to $4,000 between 1998 and 2002, has been on the increase.
As of the end of 2010, it is predicted to reach by $9,305 and $10,000 for the first time in the history of the Turkish Republic and to reach $11,228 by the end of this year.
So national income per capita would gain 3-fold growth in 10 years.
Another progress in the economy according to the internationally economic analysis, Turkey takes place in the E7 emerging economies (China, India, Brazil, Russia, Mexico, Indonesia and Turkey). Likely E7 would overtake the G7 economies (US, Japan, Germany, UK, France, Italy and Canada) before 2020.
As for another calculation, it is said the shift in the economic world order is slower but equally inexorable, with the E7 projected to overtake the G7 around 2032.
Overcoming the global crisis in 2008 and 2009, it is expected Turkey's economy to grow up to 8 percent in 2010.
The important handicap of the economy is current account deficit which stem from being an internationally energy-addicted country, in the rate of 74 percent. It is the biggest item in the country's spending via foreign current exchange.
When Turkey activates its alternative energy resources into force steadily by its national resources such as wind, solar power, hydroelectric and biofuel and then the internationally energy dependency will turn into downward side.
Finally, during the passed 8 years Turkey has smartly allowed its dynamic potentials activate in both home and abroad, so thanks to this Turkey has begun to change in every aspect ranging from democracy to rule of law, freedom of expression and from foreign policy to economy growth, per capita income. It is seem that in the next period these indicators will develop more by exact, decisive, determined policies of the ruling administration.
Despite the global financial crisis, which is evaluated as the biggest one after the Great Depression lasted until the late 1930s or early 1940s, Turkey's economy could be able to cushion against challenges of the global crisis. Previously taken measures and smart management have played significant role in this success.
Monitoring these positive developments in the Turkish economy, the foremost economies' actors of the world has been lauding Turkey's progress and show Turkey as a global power. Having passed through a crucial test during the crisis without stumbling, Turkish economy has become an example economy for the world.
When we look at the positive developments on the economy during the past eight years, Turkish economy has enjoyed outstanding advancements. Turkey's ruling party has been able to achieve plunging the rates of interest and inflation down from the double digits to the single level in this period.
Meanwhile, Turkey successfully eliminated six digits from the Turkish currency, so TL was released from the banknotes having many zeros and has won valuation. Turkey has also managed the Turkish lira (TL) to pose as a strong rival against the US dollar and the euro in the last eight years.
In recent years, prosperity is gradually increasing in Turkey and low-income groups do get their share from that prosperity. It is observed that there is a significant surge in purchasing power.
Based on data collected by the Turkish Statistical Institute, the Organization for Economic Cooperation and Development and the State Planning Agency, national income per capita, which used to float around $3,000 to $4,000 between 1998 and 2002, has been on the increase.
As of the end of 2010, it is predicted to reach by $9,305 and $10,000 for the first time in the history of the Turkish Republic and to reach $11,228 by the end of this year.
So national income per capita would gain 3-fold growth in 10 years.
Another progress in the economy according to the internationally economic analysis, Turkey takes place in the E7 emerging economies (China, India, Brazil, Russia, Mexico, Indonesia and Turkey). Likely E7 would overtake the G7 economies (US, Japan, Germany, UK, France, Italy and Canada) before 2020.
As for another calculation, it is said the shift in the economic world order is slower but equally inexorable, with the E7 projected to overtake the G7 around 2032.
Overcoming the global crisis in 2008 and 2009, it is expected Turkey's economy to grow up to 8 percent in 2010.
The important handicap of the economy is current account deficit which stem from being an internationally energy-addicted country, in the rate of 74 percent. It is the biggest item in the country's spending via foreign current exchange.
When Turkey activates its alternative energy resources into force steadily by its national resources such as wind, solar power, hydroelectric and biofuel and then the internationally energy dependency will turn into downward side.
Finally, during the passed 8 years Turkey has smartly allowed its dynamic potentials activate in both home and abroad, so thanks to this Turkey has begun to change in every aspect ranging from democracy to rule of law, freedom of expression and from foreign policy to economy growth, per capita income. It is seem that in the next period these indicators will develop more by exact, decisive, determined policies of the ruling administration.
29 Ekim 2010 Cuma
Economic perspective of Turkey
Turkey's economy is shown as a dynamic economy by the international institutes because of enjoying cheerful developments in recent years. Of course in these positive developments political stability has played significant role. Due to the government that is ruled by a single party has brought strength to the country compared to the long term coalition governments which pursued populist and myopic policies by 2002. Since late 2002, pleasing progresses have being enjoyed almost in every aspect either inside or abroad.
In 2008, even though the economy obtained strong advancements between 2002- 2007, the GDP annually fell to a 0.9%, due to global contractions and then contracted by 5.8% in 2009.
Emerging quickly from the global economic crisis that caused economic recession which is regarded the deepest and the most widespread in more than six decades, without any outstanding damage and not taking any international financial aid, Turkey is also shown an example country.
Turkey's financial markets and banking system also weathered the 2009 global financial crisis and did not suffer significant declines due to banking reforms implemented during the country's own financial crisis in 2001.
According to the authorities, Turkey has recently been carrying out the successful economic policies and has set a commendable example not only for its region, but for the entire world.
Economists also predicted that economic activity would be better than expected in the final quarter of 2010.
Having a huge development potential, Turkey will be able to maintain its growth depending firstly on stability in both home and international markets.
Thanks to its strong and resilience structure, Turkey's economy posted 10.3% gross-domestic-product growth in the second quarter over the same period preceding year.
According to the forecast of the IMF, Turkey's economy may expand 7.8 percent this year, this might be more than double the pace of European other emerging markets.
The positive developments that are observed by the analysts, the country is shown as a much greater regional and global presence. By successful economic policies, Turkey is also shown a praiseworthy example not only for its region, but for the entire world.
According to Finance Minister Mehmet Şimşek, Turkey would be one of the unique European countries to achieve Maastricht criteria in terms of budget deficit which was foreseen in the budget program for the fiscal year of 2011.
When we take look at Turkey's future expectations in terms of economic projections, the country is planning to achieve a $2 trillion worth of economy, with per capita income up to $23,000, in addition having scheduled for a 500-billion dollars worth of exports per annum by 2023.
Turkey's economy has over recent years become more and more diversified.
The main sectors of Turkey's industries are textiles and clothing, in addition production of automotive and electronics industries are quickly gaining ground. Especially automotive sector is regarded as a rising star due to its state-of-the-art technology and exporting almost allover the world. Also the construction sector is another emerging star in the neighboring and surrounding countries.
In addition to the bad sides, there was also a positive side of the global crisis for the Turkish economy; inflation plunged by 5.9 pct in 2009, 34-year low.
Although having enjoyed good things in the economy, there is also something to be fulfilled and structural problems to be solved such as current-account deficit and trade deficit.
The government raised its forecast for this year's current-account deficit to $39.3 billion, or 5.4% of GDP, from $18 billion. This year's trade deficit is expected to be $65.8 billion.
In conclusion, while Turkey tries to maintain its positive developments, it also will exert to solve its two main problems, current account deficit and unemployment.
In 2008, even though the economy obtained strong advancements between 2002- 2007, the GDP annually fell to a 0.9%, due to global contractions and then contracted by 5.8% in 2009.
Emerging quickly from the global economic crisis that caused economic recession which is regarded the deepest and the most widespread in more than six decades, without any outstanding damage and not taking any international financial aid, Turkey is also shown an example country.
Turkey's financial markets and banking system also weathered the 2009 global financial crisis and did not suffer significant declines due to banking reforms implemented during the country's own financial crisis in 2001.
According to the authorities, Turkey has recently been carrying out the successful economic policies and has set a commendable example not only for its region, but for the entire world.
Economists also predicted that economic activity would be better than expected in the final quarter of 2010.
Having a huge development potential, Turkey will be able to maintain its growth depending firstly on stability in both home and international markets.
Thanks to its strong and resilience structure, Turkey's economy posted 10.3% gross-domestic-product growth in the second quarter over the same period preceding year.
According to the forecast of the IMF, Turkey's economy may expand 7.8 percent this year, this might be more than double the pace of European other emerging markets.
The positive developments that are observed by the analysts, the country is shown as a much greater regional and global presence. By successful economic policies, Turkey is also shown a praiseworthy example not only for its region, but for the entire world.
According to Finance Minister Mehmet Şimşek, Turkey would be one of the unique European countries to achieve Maastricht criteria in terms of budget deficit which was foreseen in the budget program for the fiscal year of 2011.
When we take look at Turkey's future expectations in terms of economic projections, the country is planning to achieve a $2 trillion worth of economy, with per capita income up to $23,000, in addition having scheduled for a 500-billion dollars worth of exports per annum by 2023.
Turkey's economy has over recent years become more and more diversified.
The main sectors of Turkey's industries are textiles and clothing, in addition production of automotive and electronics industries are quickly gaining ground. Especially automotive sector is regarded as a rising star due to its state-of-the-art technology and exporting almost allover the world. Also the construction sector is another emerging star in the neighboring and surrounding countries.
In addition to the bad sides, there was also a positive side of the global crisis for the Turkish economy; inflation plunged by 5.9 pct in 2009, 34-year low.
Although having enjoyed good things in the economy, there is also something to be fulfilled and structural problems to be solved such as current-account deficit and trade deficit.
The government raised its forecast for this year's current-account deficit to $39.3 billion, or 5.4% of GDP, from $18 billion. This year's trade deficit is expected to be $65.8 billion.
In conclusion, while Turkey tries to maintain its positive developments, it also will exert to solve its two main problems, current account deficit and unemployment.
27 Eylül 2010 Pazartesi
Clock is ticking for MDGs
Poverty, starvation, diseases, basic human rights and rule of law are the common problem of many people across the world. These basic matters appear especially in the least-developed countries. Another basic issue is the lack of democratization in the least-developed countries.
Bad governance, strife and wars also constitute a great hindrance to access today's modern and humanitarian administration regimes.
As for education issue is another vital lack to solve their problems in a compromising situation.
Currently there are some 1 billion people who cannot find sufficient nutrition for their basic needs and also 2.4 billion cannot access to suitable sanitation. There are nearly 1 billion people cannot access the safety drinking water as well.
In solving all of these problems leadership has a critical role. A leader of a community and country's has a fundamental and accountable role to take its community and country to a safe and reliable condition. A great responsibility falls on the shoulders of leaders in guidance and management as well as cooperating with the civil society organizations to raise their societies' living standards.
The poor countries have been affected more by the global warming and climate change than the developed countries.
In the face of this inhuman table to solve this huge problem of the world, ten years ago, on 8 September 2000, world leaders came together to sign the Millennium Declaration in order to relieve millions of people.
The related resolution has been passed by the General Assembly of the UN on 14 December 2000 to guide its implementation.
Ten years ago, heads of state and governments undertook a serious commitment to fight extreme poverty and hunger and achieve substantial progress in development by 2015.
Five years later progress on implementation of the declaration had been reviewed at the 2005 World Summit of leaders. The summit evaluated the development successful by stating "it was no small feat." They seemed hopefully that the Millennium Development Goals are achievable.
Now the leaders gathered again on 20-22 Sept. to evaluate the period of 10 years of the targets. The leaders are promising to build a more prosperous, just and peaceful world.
The world has recorded impressive successes in reducing poverty, empowering women and increasing access to essential services like education, health care and clean water.
Even there is some anxiety to accomplish the goals.
The statements show that the reviews of MDG progress in various countries have revealed many successes, but also the need for urgent, focused action.
For example, the absence of enhanced efforts, many countries risk missing one or more of the targets by the deadline.
However, if the impediments causing slow or decelerating progress are known, these bottlenecks can be removed through the application of sound, evidence-based knowledge of what is likely to work.
According to the statement of the secretary general, many of the attendee countries have already committed to launch new initiatives. Others have pledged to do so in the near future.
After putting the entire key issues and ideas on the table, the UN emphasized jobs, especially green jobs, inclusive and sustainable development. Because of the environment and ecosystems in both the poor nations and the entire world are the one of the most important issues to solve poverty and hungry.
Achieving the MDGs is possible.
"We have the experience, the technology, the money and the plan to address the challenges systematically. What we need is the will to put it into action," the UN stressed.
Finally, the works which to be accomplished is much and time is diminishing and the problem is not solvable, the only thing is to be faithfully to fulfill the promises up to 2015.
Bad governance, strife and wars also constitute a great hindrance to access today's modern and humanitarian administration regimes.
As for education issue is another vital lack to solve their problems in a compromising situation.
Currently there are some 1 billion people who cannot find sufficient nutrition for their basic needs and also 2.4 billion cannot access to suitable sanitation. There are nearly 1 billion people cannot access the safety drinking water as well.
In solving all of these problems leadership has a critical role. A leader of a community and country's has a fundamental and accountable role to take its community and country to a safe and reliable condition. A great responsibility falls on the shoulders of leaders in guidance and management as well as cooperating with the civil society organizations to raise their societies' living standards.
The poor countries have been affected more by the global warming and climate change than the developed countries.
In the face of this inhuman table to solve this huge problem of the world, ten years ago, on 8 September 2000, world leaders came together to sign the Millennium Declaration in order to relieve millions of people.
The related resolution has been passed by the General Assembly of the UN on 14 December 2000 to guide its implementation.
Ten years ago, heads of state and governments undertook a serious commitment to fight extreme poverty and hunger and achieve substantial progress in development by 2015.
Five years later progress on implementation of the declaration had been reviewed at the 2005 World Summit of leaders. The summit evaluated the development successful by stating "it was no small feat." They seemed hopefully that the Millennium Development Goals are achievable.
Now the leaders gathered again on 20-22 Sept. to evaluate the period of 10 years of the targets. The leaders are promising to build a more prosperous, just and peaceful world.
The world has recorded impressive successes in reducing poverty, empowering women and increasing access to essential services like education, health care and clean water.
Even there is some anxiety to accomplish the goals.
The statements show that the reviews of MDG progress in various countries have revealed many successes, but also the need for urgent, focused action.
For example, the absence of enhanced efforts, many countries risk missing one or more of the targets by the deadline.
However, if the impediments causing slow or decelerating progress are known, these bottlenecks can be removed through the application of sound, evidence-based knowledge of what is likely to work.
According to the statement of the secretary general, many of the attendee countries have already committed to launch new initiatives. Others have pledged to do so in the near future.
After putting the entire key issues and ideas on the table, the UN emphasized jobs, especially green jobs, inclusive and sustainable development. Because of the environment and ecosystems in both the poor nations and the entire world are the one of the most important issues to solve poverty and hungry.
Achieving the MDGs is possible.
"We have the experience, the technology, the money and the plan to address the challenges systematically. What we need is the will to put it into action," the UN stressed.
Finally, the works which to be accomplished is much and time is diminishing and the problem is not solvable, the only thing is to be faithfully to fulfill the promises up to 2015.
26 Ağustos 2010 Perşembe
First decade of 21st century in Turkish economy
Prosperity and development are the basic elements of many countries in order to enable their people to enjoy fundamental rights and opportunities. Despite many international organizations via their finance and know-how to enable and encourage nations to realize their developments, there are lots of countries which had not achieved in this issue across the world. So the rules of development involve mainly the related nation’s exclusive efforts, good governance, skilled and well educated staff through a democratic regime.
In recent years, Turkey’s economy has recorded outstanding developments. In this advancement, current government’s policy has played a significant function. Removing some barriers and taboos one by one that remained in front of the country’s improvement, the administration has achieved noteworthy advancements.
In this progress, while strict economic rules have played outstanding role, also coming into the power as a single political party is an important function.
Since the government has come to the office, it has made radical changes almost in every aspect. Almost Turkey has been enjoying a breeze of change in many areas ranging from economy to foreign policy and lawful regulations. In addition, acting determinatively and faithfully has catalyzed to realize the reforms.
Letting potential investment areas get into activity, Turkish economy has been enjoying pleasant progresses. Foreign investors have been assured in order to inflow their foreign direct investment higher than ever before to Turkey in the first decade of 2000s.
In this process, interest and inflation rates, which had been in the double digits for long years, have plunged from the double digit to single digit. Exports have folded nearly three times from $36 billion to over $110.
Thanks to its zero problem policy with its neighboring and surrounding countries, Turkey's trade has also showed a development.
Activating its idle potential Turkey has expanded its GDP from $230 billion to $730 within 6 years. While per capita income was $3 thousand in 2002, this figure raised by $10 thousand in 2008. Regarding the global economic crisis reducing by $8 thousand 500, it is expected per capita income will reach by $10 thousand in 2010. Ridding of the global crisis successfully earlier than other countries without any important loss, Turkey is shown as an example to the world due to its successful and stable economic development.
Meanwhile Turkey’s harmonization process with the European Union has enabled the country to take steps in the democratic and economic areas.
In the past suffering from a series of coalition governments with weak economic policies, Turkish economy experienced a deep economic downturn (GNP fell 9.5% in 2001) and an increase in unemployment, according to the source.
Following recovery program, Turkey's economy grew an average of 6.0% per year from 2002 to 2007; it is shown one of the highest sustained rates of growth in the world. As well as inflation and interest rates fell significantly, the currency stabilized, and government debt declined to more supportable levels (39.5% of GDP in 2008).
However, booming economic growth contributed to a growing current account deficit (-5.6% of GDP or $41.6 billion in 2008).
Due to the global economic slowdown and reduced exports, growth was 1.1% in 2008 and the economy contracted by 4.7% in 2009. Having recovered quickly in the last quarter of 2009, in the first quarter of 2010 growth became 11.7 percent. This indicates that this year’s growth would be 6.5 percent.
Finally, in the first decade of 2000s apart from the first two years, Turkey has seen a remarkable progress. Turkey has also built a solid base for the next decade in its development. If the single party can maintain its ability with this determination and enthusiasm, Turkey’s economy would achieve to enter first 10 economies of the world.
In recent years, Turkey’s economy has recorded outstanding developments. In this advancement, current government’s policy has played a significant function. Removing some barriers and taboos one by one that remained in front of the country’s improvement, the administration has achieved noteworthy advancements.
In this progress, while strict economic rules have played outstanding role, also coming into the power as a single political party is an important function.
Since the government has come to the office, it has made radical changes almost in every aspect. Almost Turkey has been enjoying a breeze of change in many areas ranging from economy to foreign policy and lawful regulations. In addition, acting determinatively and faithfully has catalyzed to realize the reforms.
Letting potential investment areas get into activity, Turkish economy has been enjoying pleasant progresses. Foreign investors have been assured in order to inflow their foreign direct investment higher than ever before to Turkey in the first decade of 2000s.
In this process, interest and inflation rates, which had been in the double digits for long years, have plunged from the double digit to single digit. Exports have folded nearly three times from $36 billion to over $110.
Thanks to its zero problem policy with its neighboring and surrounding countries, Turkey's trade has also showed a development.
Activating its idle potential Turkey has expanded its GDP from $230 billion to $730 within 6 years. While per capita income was $3 thousand in 2002, this figure raised by $10 thousand in 2008. Regarding the global economic crisis reducing by $8 thousand 500, it is expected per capita income will reach by $10 thousand in 2010. Ridding of the global crisis successfully earlier than other countries without any important loss, Turkey is shown as an example to the world due to its successful and stable economic development.
Meanwhile Turkey’s harmonization process with the European Union has enabled the country to take steps in the democratic and economic areas.
In the past suffering from a series of coalition governments with weak economic policies, Turkish economy experienced a deep economic downturn (GNP fell 9.5% in 2001) and an increase in unemployment, according to the source.
Following recovery program, Turkey's economy grew an average of 6.0% per year from 2002 to 2007; it is shown one of the highest sustained rates of growth in the world. As well as inflation and interest rates fell significantly, the currency stabilized, and government debt declined to more supportable levels (39.5% of GDP in 2008).
However, booming economic growth contributed to a growing current account deficit (-5.6% of GDP or $41.6 billion in 2008).
Due to the global economic slowdown and reduced exports, growth was 1.1% in 2008 and the economy contracted by 4.7% in 2009. Having recovered quickly in the last quarter of 2009, in the first quarter of 2010 growth became 11.7 percent. This indicates that this year’s growth would be 6.5 percent.
Finally, in the first decade of 2000s apart from the first two years, Turkey has seen a remarkable progress. Turkey has also built a solid base for the next decade in its development. If the single party can maintain its ability with this determination and enthusiasm, Turkey’s economy would achieve to enter first 10 economies of the world.
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