Home breadcru News breadcru Announcement breadcru Govt hopes to achieve 5% growth

Govt hopes to achieve 5% growth

31 Jul '06
1 min read

Despite price rise, Government of Turkey is optimistic to achieve 5 percent growth rate in 2006.

International Monetary Fund has approved installment of $1.85 billion under loan program.

Due to rising prices, country's currency has lost 25 percent of its value, following that central bank has increased borrowing rates by 425 basis points.

Target of restricting inflation rates at 5 percent seems unachievable due to depreciation of Lira and higher prices of commodity.

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!