Republic of Turkey

Capital: Ankara               HDI: 0.759 (69th)

Language: Turkish          GDP (PPP): $1.508 trillion

Currency: Turkish Lira

Population: ~ 79 million

Turkey is considered one of the world’s newly industrialized economies and has the fastest growing economy of any OECD country. The country has made progressive steps to joining the EU, reducing its annual budget deficits and better regulating its financial markets; however ascension into the EU remains elusive due to politics. They are however in a customs union with the EU since 1995, which has greatly benefitted the Turkish economy and led to greater FDI in the country.  The economic developments have grown the Turkish middle class and created a new crop of entrepreneurs who in turn have been furthering the economic development of the country.

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