CONTENT AND ORGANIZATION: Section 1: Global Trend or Issue . Turkey - Thesis Example

The turnaround of the economy after the recession in 2001 has been one main reason that has driven the economy of Turkey to become the 17th biggest economy in the world. The GDP of Turkey increased to USD 788.6 billion in 2012 from being only USD 193 billion in 2001. The GDP growth rate was 5.7% in the year 2001 and 4.7% in the year 2009. The growth rate of Gross Domestic Product (GDP) of Turkey has been 8.2% in the year 2010. The high rate of Gross Domestic Product (GDP) growth and the overall economic growth of the country has equipped Turkey to negate the issues of high inflation which has always posed as a serious economic issue for turkey in the past (Transparency International 14).

Today, the risk of inflation has been controlled to a great extent in Turkey. However, the risk of inflation rates becoming higher in future still remains. The country gives much priority to control the inflation in future as well. Turkey has emerged as an important nation in the world both from the economic and business perspectives. The economy of Turkey has grown by more than 12% in the first quarter of 2011. This is beyond the market expectations and is extremely impressive when compared to the economic growth rate of other countries of similar position and size in the Middle East and Europe.

The growth rate of the economy of Turkey surpassed that of Argentina and China which had economy growth rates of 9.9% and 9.6%, respectively. This made Turkey the fastest growing economy in the world in 2011. Turkey continues to have an impressive rate of growth in the economy and Gross Domestic Product (GDP) in 2013 as well with the GDP value being USD 1.426 trillion in 2012 (World Bank 4). The economic growth of the country has been majorly driven by its high revenue generating and high performing sectors like the infrastructural, financial, retail and construction sectors.

The monetary and fiscal policies devised and implemented by the government of