Turkey Property Industry Happy to See Erdogan win 3rd Term

The Turkish Prime Minister Tayyip Erdogan looks likely to win the June elections for a third time. His party has been in power since 2002 and has been responsible for the wide spread economic and political reforms which have made Turkey such a successful country. He has also been responsible for much of the negotiations with the EU which will lead to its eventual inclusion.

Some countries have wondered about the direction Turkey is taking as it has become much closer to neighbours in the East and has actively courted Iran and other Muslim countries. The country’s ties with Iran in particular have created concern as it watches to see how Turkey will balance Western and Eastern interests. However the recent difficulties in Tunisia and Egypt have pushed Turkey towards the world stage as other countries have sought Turkey’s diplomatic influence and knowledge, with Barack Obama remaining in place contact with Ankara throughout the troubles.

Turkey is one of the fastest-growing economies in the world, but the young population makes it essential that new jobs are created as unemployment currently stands at around 11%. Inflation is also rising slightly but this is supposed to be due to higher fuel prices. As the economy grows this has pushed up the demand for imports although exports growth has not been so strong, and some analysts are worried this could affect the stability of the economy as it is driving up the current account deficit. The Turkish government has tried to adjust this by dampening the credit growth and trying to weaken the Turkish lira, but it remains to be seen what the effect will be before the June elections.

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Categories: Property Invest / Turkey Property


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