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Turkey rallies to reduce 2009 GDP shrinkage

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Turkey rallies to reduce 2009 GDP shrinkage

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Turkey’s strong economic performance towards the back-end of last year helped to take a little of the sting out of the recession.

Six per cent year-on-year growth in quarter four meant the economy shrank by 4.7 per cent in 2009 which is considerably better than experts had predicted.

Turkey’s trade deficit though widened sharply to 2.5 billion euros in February, but that is still less than forecast.

The government expects the economy to grow 3.5 per cent in 2010.