Posted by meb at September 10th, 2009

Turkish economy shrank by 7 pc in second quarter of 2009 in constant prices, showed figures by Turkey’s statistic agency TÜİK.

TÜİK made public on Thursday the gross domestic product figures for Q2 of 2009.

Turkey’s Q2 GDP was realised as 23,513 million Turkish liras (1 USD equals 1.49 TL) in constant prices, marking a 7 pc a year-on-year decline.

Q2 GDP in current prices decreased by 4.4 pc and was realised as 228,817 million Turkish liras.

Turkey’s GDP in the Q1 of 2009 was realised as 21,145 million Turkish liras, and the economy shrank by 13.8 percent in the same period.

Turkey’s government had initially projected an economic growth rate of 4 percent for 2009 but revised it later as 3.6 percent of contraction.
source: Today’s Zaman

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