This is one of the lessons taught by Buddha. May it be your everyday life or your business, thoughts become things and thus you are in more control than you would think. Your thinking determines your actions and your actions determine the/your outcome.
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Turkish economy continues its strong surge
Buoyed by a dynamic economy back home, Turkish investors have pumped over five billion USD into Romania in a diversity of sectors, ranging from banking to civil engineering and from household goods to chemicals and fertilizers. The bilateral trade between Romania and Turkey is also going strong and it is expected to reach ten billion Euro in 2012.
Some of the most prominent and successful Turkish investments in Romania include Anchor Group, Credit Europe Bank, Prolemn SA, Azomures, Düz SA Barlad and Arctic. Their strong success is not surprising if we consider that they have had a strong basis in their home market.
According to the Turkish Government’s Investment Support and Promotion Agency, the Turkish economy has shown remarkable performance with its steady growth over the last eight years, sustained by a sound macroeconomic strategy in combination with prudent fiscal policies and major structural reforms.
The structural reforms, boosted by Turkey’s EU accession process, have paved the way for comprehensive changes in a number of areas. The main objectives of these efforts were to increase the role of the private sector in the Turkish economy, to enhance the efficiency and resiliency of the financial sector, and to place the social security system on a more solid foundation. As these reforms have strengthened the macroeconomic fundamentals of the country, inflation drastically decreased to 6.4 per cent by the end of 2010, down from 30 per cent in 2002, while the EU-defined general government nominal debt stock fell to 41.6 per cent from 74 per cent in a period of eight years between 2002 and 2010. Hence, Turkey has been meeting the “60 per cent-EU Maastricht criteria” for the public debt stock since 2004.
As the GDP levels more than tripled to 736 billion USD in 2010, up from 231 billion USD in 2002, GDP per capita soared to 10,079 USD, up from 3,500 USD in the given period.
The visible improvements in the Turkish economy have also boosted foreign trade, while exports reached 114 billion USD by the end of 2010, up from 36 billion USD in 2002. Similarly, tourism revenues, which were around 8.5 billion USD in 2002, exceeded 20 billion USD in 2010.
According to the Turkish Government’s Investment Support and Promotion Agency, the Turkish economy has shown remarkable performance with its steady growth over the last eight years, sustained by a sound macroeconomic strategy in combination with prudent fiscal policies and major structural reforms.
The structural reforms, boosted by Turkey’s EU accession process, have paved the way for comprehensive changes in a number of areas. The main objectives of these efforts were to increase the role of the private sector in the Turkish economy, to enhance the efficiency and resiliency of the financial sector, and to place the social security system on a more solid foundation. As these reforms have strengthened the macroeconomic fundamentals of the country, inflation drastically decreased to 6.4 per cent by the end of 2010, down from 30 per cent in 2002, while the EU-defined general government nominal debt stock fell to 41.6 per cent from 74 per cent in a period of eight years between 2002 and 2010. Hence, Turkey has been meeting the “60 per cent-EU Maastricht criteria” for the public debt stock since 2004.
As the GDP levels more than tripled to 736 billion USD in 2010, up from 231 billion USD in 2002, GDP per capita soared to 10,079 USD, up from 3,500 USD in the given period.
The visible improvements in the Turkish economy have also boosted foreign trade, while exports reached 114 billion USD by the end of 2010, up from 36 billion USD in 2002. Similarly, tourism revenues, which were around 8.5 billion USD in 2002, exceeded 20 billion USD in 2010.
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