"Turkish Economy stays on course as stagnation afflicts world
In the first quarter of 2005, Turkey grew 5.3 percent. After the 9.9 percent growth rate of 2004, I find it sound and reasonable.
As a rule, no trend in the world, be it on the micro or macro level, can follow one constant direction or pace.
Turkey 's national income grew extraordinarily last year as a result of its favorable economic performance. This was the third consecutive year that a high growth rate was achieved. After this period, what mattered was the growth continuation or at least that there was no reversal as was the case in the past. For this reason, what growth rate the year 2005 will bring is very important. The values of the first quarter are auspicious as they are positive and balanced. That is, it is not the case that we pay the cost of the high growth rate of the last three years."
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