Turkish Economy Grows By 13.5 Percent In First Half

ANKARA, Sept 10 (AFP) - The Turkish economy was stronger than expected in the second quarter of 2004, helping Ankara to post first-half growth of 13.5 percent from the equivalent figure last year, the national statistics institute said Friday.
Second-quarter growth was 14.4 percent on a 12-month basis, the institute added.
In 2003, the Turkish economy expanded by 5.9 percent, exceeding forecasts of five percent.
Ankara has retained the five-percent target for this year, but might surpass that as well, Economy Minister Ali Babacan said recently.
In 2001, the economy slumped into its worst recession since World War II, contracting by 9.4 percent.
Ankara concluded a three-year stand-by deal worth 16 billion dollars (13 billion euros) with the International Monetary Fund in February 2002, and has since been working its way back to a position of economic strength.