Investment bank Morgan Stanley indicated that the economy is getting back to normal in Turkey. In its report on the Turkish economy, the bank noted that the latest figures confirmed that the economy is getting back to normal after the spring fluctuations in the spring. The central bank's decision to keep interest rates in tact was the most tangible sign of economic normalisation. The bank also praised strict financial discipline in effect in Turkey: public sector borrowing rate over gross domestic product decreased to 0.8% in 2005, from 17.5% in 2001. Turkey has become a net debt payer for the first time.
Emerging Markets Editorial Team,
September 04, 2006