Turkey’s Economy Feeds TUR

Ten years ago, most investors would have been hard pressed to make a case for betting on the Turkish economy while keeping a straight face; the eastern European nation had a budget deficit equal to 16% of GDP and inflation as high as 72%. Moreover, the Turkish lira endured a dramatic depreciation and ultimate revaluation; at one point it took 1.65 million lira to purchase one U.S. dollar. But after years of sound fiscal policies, prudent government spending, and a few lucky breaks, Turkey has been transformed into one of the world’s most promising economies. “Today, Turkey is a fast-rising economic power, with a core of internationally competitive companies turning the youthful nation into an entrepreneurial hub, tapping cash-rich export markets in Russia and the Middle East while attracting billions of investment dollars in return,” writes Landon Thomas. Turkey has long tried to join the European Union, and has been [...] Click here to read the original article on ETFdb.com. Related Stories: Coup Chaos Rocks Turkey ETF Should You Feast On The Turkey ETF? Israel, Turkey ETFs In Focus As Another Showdown Looms