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Turkey needs growth higher than current rate of 3% to avoid to ‘middle income trap’

byCustoms Today Report
16/03/2015
in Uncategorized
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ANKARA: Turkey needs growth higher than its current rate of around 3 percent to avoid the “middle income trap”, the country’s finance minister said.

Speaking at an economic conference, Mehmet Şimşek also said that macroeconomic fundamentals were more important than fluctuations in FX markets. The Turkish lira has lost more than 10 percent of its value against the dollar this year over concerns about political interference in central bank policy.

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