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February 2, 2010 -

The Turkish Bulletin – January 19th 2010

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During the last two weeks, the Turkish economy was highlighted by the following items:

  • Budget Deficit reached a level of TL52.2bn in 2009, approx. equivalent to 5.5% of GDP.
  • Current Account’s deficit re-widened as it posted a deficit of US$1.6bn in Nov09, increasing the year-to-date figure to US$9.9bn.
  • Unemployment slightly declined to 13% in Oct09.
  • Moody’s upgraded Turkey’s rating by one notch to Ba2.
  • MPC kept interest rates at 6.5% level given the inflation & growth outlook.
  • IMF: no concrete development was recorded except continuous rumours over an imminent agreement.
  • The Turkish Bulletin – January 19th 2010 (114 ko)