Turkey’s financial managers and citizens are rubbing their eyes in disbelief. A country that was once the economically sick man of Europe is walking again. More than that, in some important respects, it is running ahead faster than many thought possible.
A combination of favourable economic circumstances is imbuing market players with a welcome sense of optimism and confidence. Economic stability now looks not merely predictable but also sustainable. Inflation is steady and declining, growth is rapid and interest rates are falling.
