Thoughts and Observations on Turkish Economy and financial markets. Turkiye Ekonomisi, Borsa, Dolar, Altin, Faiz, Teknik Analiz, Grafik, Hisse Senetleri...

Wednesday, July 30, 2008

Turkey among 2050's top 10 economies

Goldman is gone crazy. According to a research report by Goldman Sachs,

By 2024, Turkey's per capita income will climb to $20,000-25,000, claims the report. Turkey's per capita national income is expected to surpass $30,000 in 2033, and $40,000 in 2040, reaching the $60-65,000 level by 2050, adds Goldman Sachs.
The growth rates of the E7 bloc of emerging economies, which includes Turkey, China, India, Brazil, Russia, Indonesia and Mexico, will surpass those of the United States, European Union, G7 and the Organization for Economic Co-operation and Development, or OECD by 2050, the data revealed.
The countries including Turkey will catch up with the industrialized countries in 2025 and start to surpass them in 2030. The national currencies of the emerging markets, including Turkey, are also expected to gain 2 to 2.5 percent in value annually.

There is no way in hell that Turkey's curreny will apperciate by 2% annually for 40 years. It is already fairly valued. Did you go shopping in Turkey recently? It is more expensive than New York!!