Turkey ranks the second in growth

The Turkish economy grew by 8.5 percent in 2011 overall, and 5.2 percent in the last quarter of the year, according to figures released yesterday by the Turkish Statistical Institute (TUIK). Reportedly, Turkey's Gross Domestic Product (GDP) was recorded at 1.2 trillion Turkish Liras, or $772.2 billion, while per capita income amounted to $10,444 in 2011. Speaking at the Local Administrations and Family Symposium organized by the Justice and Development Party (AKP) yesterday, Prime Minister Recep Tayyip Erdogan stated that Turkey grew the most after China last year. "The reason behind Turkey's robust growth is confidence and stability. We have built confidence and ensured stability, and thus foreign direct investment into Turkey will further increase in the future," Erdogan said.