Turkey enjoys world's fastest-growing economy in Q1

Turkey's economy beat expectations in the first quarter of 2011 with 11 percent growth, thanks to special consumption expenses and investments, according to the Turkish Statistics Institute (TurkStat). With this growth rate, Turkey bettered the biggest economies of the world in the first quarter and is expected to surpass $742 billion, its pre-crisis 2008 gross domestic product. According to TurkStat data, Argentina and China followed Turkey with respective growth rates of 9.9 percent and 9.7 percent. Turkey's year-end 2011 growth is expected to exceed 7 percent.