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Monday, January 29, 2007

Gloomy outlook for Turkish economy

"Gloomy outlook for Turkish economy
By Jephraim P Gundzik

Turkey has enjoyed strong economic growth since the country's last crisis in 2001. Unusual political stability has revitalized its currency, the lira, pushing inflation and interest rates lower, spawning a credit boom. Gathering political instability is likely to spark capital flight and higher inflation and interest rates in the months ahead. Turkey's economy is likely to shrink by more than 6% in 2007, while the value of the lira, stocks and domestic and international bonds plunges. "

More:Asia Times Online :: Middle East News - Gloomy outlook for Turkish economy