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IMF predicts Turkey's growth will surpass its neighbors

IMF predicts Turkey's growth will surpass its neighbors

Turkey's economy will grow 45.3 percent between 2011 and 2016, 12 points higher than the expected average growth rate in its immediate neighbors, according to new International Monetary Fund projections. The country's gross domestic product (GDP) is expected to reach $1,159 billion in current prices, while the total GDP of its adjacent neighbors is estimated to amount to $1,407 billion. Among Turkey's neighbors, Greece is expected to grow the slowest over the next five years, by 12 percent through 2016 to reach $348 billion. Iran's economy is expected to grow 34.1 percent to reach $564 billion. Turkey is set to rank second only behind Greece by 2016 in terms of per capita income, with $15,000, half of Greece's projected per capita income of $31,000.

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