WORLD BANK PROMOTES TURKEY

Views on BG | November 12, 2001, Monday // 00:00

Turkish Daily News

BY MOVING INTO THE UPPER-MIDDLE INCOME BRACKET, TURKEY MOVES AHEAD OF ALL ITS


World Bank reinstates Turkey as an upper-middle income country.The World Bank has raised Turkey's economic classification from middle to upper-middle income, the Anatolia news agency reported yesterday. Turkey has earlier been relegated to a middle-income country following the two massive earthquakes in 1999. According to the World Bank's report, restructure of the economy and general positive expectations for the future of Turkey's economy have played a role in getting Turkey reclassified. Neighbors - Bulgaria, Iran, Iraq, Syria, Georgia, Azerbaijan and Armenia - as well as Russia and Thailand, who all remain in the lower bracket. Turkey's income per capita is around $3,000 a year. Despite the occasional fall, this figure has generally been able to remain steady.
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