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The Turkish Economy Outpaces Major Developing Countries like China and Argentina
The Turkish Economy Outpaces Major Developing Countries like China and Argentina
Banka Faiz Oranlari have all resulted in a boom time for the Turkish economy, but not everyone is enthusiastic about the boom.
Sanger,
CA,
United States
(pr4links.com)
26/07/2011
Even as most of the Middle East, struggles with political turmoil and economic uncertainty, the scene in Turkey has been far from the disquieting atmosphere witnessed by its neighbors. The country has registered a growth of 11% in the first quarter of 2011. In fact the country has surpassed China and Argentina in growth. None of the banks in Turkey have fallen prey to the global financial crisis. Inflation too has been under control.
A large part of this success goes to the strong performance of Turkish banks and its fiscal performance. The country’s per capita income has tripled from $3000 to $9000 in less than a decade. The government has already made it clear that it’s looking to revive the glory of the Ottoman Empire and is trying to come out of its shackles of furthering the NATO agenda.
The real estate sector too has seen a boom. Bankalarin faiz oranları provided by the banks has been encouraging for foreign investors looking to buy property in the yet to be commercialized Mediterranean country. A few years ago mortgages were almost nonexistent due to the high inflation rates and high real interest rates. Mortgage rates have seen a steady decline in the past few years. Last year, en yuksek faiz veren banka interest rates were at 9-10%, thus causing a boom in the bank credit. Independent estimates had pegged the total size of the mortgage market at 57 billion liras and this year they are expected to be around 62 billion Turkish liras.
Tourism has been another factor responsible for the growth of the country. While some are apprehensive about the country’s Premier, leaning towards Iran and fear domination of radical Islamists, figures released by Tasyapi, Turkey’s leading construction company indicate otherwise. The company has about 7 to 8 million square meters of construction projects- mostly hotels and residential developments planned.
There are some who aren’t enthused with the growth rate. They point to the current account deficit that has been growing at an alarming rate. This they say is keeping foreign investors from believing in the hype and point that Turkey may be a sitting duck for overheating. These factors however have to be taken into consideration with the fact that Turkey has faced the worst in the past and has emerged successfully every time. To be fair to the Apex Bank it is also doing its best to curb the CAD, by squeezing lending and consumption through regularizing the banka faiz oranları karşılaştırma.
About Yapi Kredi: Established in 1944, Yapi Kredi is Turkey’s first private bank and has been in the forefront of banka faiz oranları karşılaştırma and en yüksek faiz veren banka market.
To know more, visit http://www.yapikredi.com.tr/tr-TR/hesaplama_araclari/FaizUcretler.aspx
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