Economic growth in Turkey predicted

Monday December 10th , 2007

Turkey's economic growth is set to continue in the near future, experts have predicted.

The Organisation for Economic Co-operation and Development (OECD) stated that the economy could expand by up to six per cent in the next two years, reports the Guardian.

If this prediction is accurate, this means that the country's growth will have outpaced official estimates.

The Turkish government recently estimated that in 2008 and 2009, the economy would expand by about 5.5 per cent, less than the OECD's projected figure.

Speaking in a report, the organisation said: "If the pending reforms targeted by the government are implemented assertively, this could accelerate Turkey's shift to a stronger growth rate."

However, the OECD stated that this rate of economic expansion depended on the absence of any shocks during the next two years.

Turkey's growing economy is likely to be a factor that could entice overseas property buyers to the country, particularly as it is a highly popular holiday destination.

The Telegraph recently recommended that buy-to-let investors consider areas such as Bodrum because it has a "booming" tourist trade.