TURKEY has achieved progress and financial stability in the last four years. In terms of year-on-year changes in the consumer price index (CPI), inflation decelerated from 68.5 percent at the end of 2001 to 9.3 percent at the end of 2004, and further to 8 percent at the end of 2005, representing the lowest annual CPI figure for the last 35 years.
With the private sector as the driving force, it is now enjoying one of the longest stretches of economic growth with an annual average growth rate of 8 percent for the last three years.