Poor old Turkey :(


Statistics have shown that Turkey’s GDP (Gross Domestic Product) only grew by 1.6% in the 3rd Quarter of this year. This was a huge disappointment for the Turks, who over the last decade have seen a significant increase in FDI (foreign direct investment), because of rapid economic expansion with GDP growth rates of 8% and above, however Turkey is the latest emerging-market economy to falter.

The EU is Turkey’s biggest trading partner and the Eurozone Crisis has significantly impacted Turkey’s exports, hence reducing GDP growth. Another factor which has caused Turkey’s economy to falter is the tensions of the Turkish-Syrian border. I do hope and pray that the fighting in Syria stops soon. One uprising in one country not only seriously affects the people of that country, it also impacts neighbouring countries, whose economies are harmed and consequently this will have a negative effect on the global economy. So the uprising in Syria is very likely to effect all of us in some way or another (most likely economically), because our country will be affected.

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