IMF report predicts Turkey's GDP will exceed $1 tln by 2014

New International Monetary Fund figures paint Turkey as one of the world's fastest-growing economies in terms of purchasing power parity (PPP) over the last 15 years. The figures, which covered 28 countries, show that Turkey was number eight among countries whose gross domestic product (GDP) enjoyed rapid growth between 1994 and 2009, by increasing its GDP from $352.1 billion to $869.1 billion in that period, despite severe crises in 1995, 2000 and 2001 and the recent blow of the 2008 global economic meltdown. Turkey's annual average growth rate in current prices was 6.2 percent. The report also predicted Turkey's GDP will reach $1.13 trillion by 2014.