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Turkey
Turkey is geographically bridging Europe and Asia and is divided into seven regions - the Black Sea region, the Marmara region, the Aegean, the Mediterranean, Central Anatolia, the East Anatolian and Southeast Anatolia regions.
Turkey is located in Southeastern Europe and Southwestern Asia (that portion of Turkey west of the Bosporus is geographically part of Europe), bordering the Black Sea, between Bulgaria and Georgia, and bordering the Aegean Sea and the Mediterranean Sea, between Greece and Syria.
Fact sheet:
Country Name |
Turkish republic |
Location |
South
Western Asia |
Territory |
779.452 km2 |
Population |
70,85
million |
Unemployment |
10,3
% (2005) |
GDP
growth |
7,6
% (2005) |
Average gross monthly
salary |
1595 EUR
(2005) |
Social
security paid by employer |
21,5 % |
Capital City |
Ankara |
Currency: |
Lira
(TRY)
January 2007
1 USD = 1,43 TRY 1 EUR = 1,88 TRY |
International Telephone
Calling Code: |
+ 90 |
Electricity: |
230V, 50 Hz |
Time
zone |
Central European Time (GMT - 2, GMT -3) |
Climate |
Mediteranian,
Mild Contimental |
Economy:
Prominent results
have been achieved in production due to determinant macroeconomic
policy implementations based on tight fiscal and monetary policy,
with continuously growing real GDP throughout the past four years.
In 2002-2005 period real GDP grew by 33.6 percent on a cumulative
basis and 7.5 percent on average, making the Turkish economy one of
the fastest growing economies in the world. After the historical
levels recorded in 2004, GDP and GNP rose by 7.4 and 7.6 percent
respectively in 2005, which were far beyond the targets and
forecasts. Moreover, Turkey's per capita GDP has risen above 5,000
dollar in 2005 for the first time ever.
Inflation declined from 70 percent levels on
average in the last decade to single digits is equally striking.
This was achieved against a background of strong growth and the
record level of global energy prices. Annual inflation was realized
as 7.72 percent in CPI and 2.66 percent in PPI in 2005. Annual CPI
inflation was below the inflation target in 2005, as it was the case
in the 2002-2004 period. Moreover, inflation expectations, which
have an important role in struggling with inflation, improved and
confidence climate strengthened.
Investment:
Foreign direct
investment inflows which averaged around 1 billion dollars in the
past increased to 9.6 billion dollars last year thanks to
acquisitions in private sector, progress in privatization and
acceleration in Greenfield investments. It is expected that this
increasing trend will continue in coming years as Turkey fosters her
efforts to improve investment environment and makes headway in EU
accession.
Turkey has a young and dynamic population of
73.4 million. 94 % of its population is below the age of 65. The
annual population growth reached 1,24% in 2006. Total labor force
in Turkey in 2005 is about 25 million. The unemployment rate has
decreased to 10.2 %. The employment figures show that 51 % of the
employment total is in the Services sector, 30 % in the Agriculture
sector and 19 % in the Industry sector.
In Turkey, 10.2 %
of the total labor force has a University degree; 20 % has a High
School diploma; 63.2 % has an education level below High
School level.
Government Subsidies for Investments
-
Exemption From Customs Duties and Fund
Levies
-
Value Added Tax Exemption
-
Credit Allocation From the Budget
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