ANKARA (AFP)- Turkey's economy is expected to grow at least some eight percent in 2004, beating the year-end target of five-percent, the country's deputy prime minister said.
"If there is no growth in the last quarter of the year, we expect yearly growth to reach 8.8 percent," Abdullatif Sener told the Anatolia news agency.
"If the economy continues to grow in the last quarter as well, then yearly growth is expected to reach 10 percent," he added.
Severe financial turmoil in 2001 plunged Turkey into its worst recession since World War II and caused the economy to shrink by an unprecedented 9.4 percent.
The crisis sent Turkey running after a 16-billion-dollar aid package from the International Monetary Fund in return for implementing drastic reforms to slash chronic inflation, reform the troubled banking system and ensure firm growth.
Last year, the economy expanded by 5.9 percent, exceeding forecasts of five percent.
The Turkish government announced last month that it would soon hold talks with the IMF on drawing up a new stand-by deal when the current one expires in February 2005.