Turkey 2nd Highest Growth In OECD Members, 4th In G-20.

Turkey, with 4.4 percent growth rate for 3rd quarter of 2013 fiscal year, records the second highest growth rate among the OECD member states and the fourth highest growth rate in the G-20 states. According to a report by an Ankara based think tank institution Foundation for Political, Economic and Social Research (SETA), the main factors behind the growth rate of the third quarter are the positive developments in banking and public finance, the limited impact of FED declaration on easing program and the flexibility of the Turkish export market.The report also indicates that although the uncertainty in the global economy has decreased to a significant extent, still the developed economies are not recording significant growth rates. The report also notes that Turkey has been growing steadily since 2009 and has recorded a higher growth rate than all 17 Eurozone member states. China recorded a lower growth rate than expected which reflects the slowdown in the global economy, noted the report. Following China with 7.8 percent, Indonesia recorded the second highest growth among G-20 countries with a growth rate of 5.6 percent, while India came in third with a growth rate of 4.8 percent and Turkey is fourth with a growth rate of 4.4 percent.

 Source : Worldbulletin