Turkish economy cools, TOBB warns

Turkish economy cools, TOBB warns

KAYSERİ - Doğan News Agency

It will be difficult for Turkey to match the high economic growth rate of 2011 this year, Rifat Hisarcıklıoğlu, the president of the Turkish Union of Chamber and Commodity Exchanges (TOBB) said July 22.

“The Turkish economy has cooled down. We want to be one of the three fastest-growing economies [like we were] with an 8.5 percent growth rate last year. But it seems that we are unlikely to register this figure this year. The economy is running a little cold,” Hisarcıklıoğlu said yesterday, replying a reporter who asked “The weather is hot, how about the economy?”

The government’s target is 4 percent growth in the gross domestic product this year. The Turkish economy grew by 3.2 percent in the first quarter compared with the same period last year, according to data from the Turkish Statistical Institute, reinforcing views that the economy is in a “soft landing” phase.
Kayseri is a model province, Hisarcıklıoğlu said during his meeting with Mevlüt Bilici, central Anatolian Kayseri’s governor. What makes Kayseri a brand is its unity and solidarity, he said.

Turkey, economy, cooldown