"Turkish Economy Enters Summer in Cautious Optimism
Important economic developments occurred in early July. How will recent financial figures shape our expectations for the second half of 2006? A look at the latest developments: The economy grew 6.4 percent during the first half; a figure that exceeded the, expectations and set targets. June’s export figures topped $7.6 billion, the first positive result of “exchange adjustment.” Domestic producers immediately demanding price hikes to make up for the rising dollar lack the necessary foresight. They are once again sacrificing the future to save the day.
Finally, June’s consumer price index (TUFE) was 0.34 percent, lower than predicted by the pollsters. In contrast, the producer price index (UFE) was rather high, at 4.02 percent. These figures show that this summer the economy will run with cautious optimism."
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