Turkey becomes fastest growing economy in Europe

Turkey has become the fastest growing economy in Europe with recently announced 8.9% growth rate achieved in 2010.

This growth rate put Turkey also in the third spot among G20 countries. China, which saw a 10.3% growth rate last year, was followed by Argentina that achieved a 9.2% growth rate in 2010 among G20 economies.

According to figures for the last quarter in Europe, Sweden was the fastest growing country among EU-member states with 7.2% growth rate year-on-year. Estonia followed Sweden with 6.6% and Finland with 5% growth rates.

Europe's largest economy Germany's growth rate stood at 3.5% in whole year while Britain and France grew 1.5%, and Italy saw a 1.3% growth in 2010.

Greece, which secured a financial support of around 110 billion USD from EU and the International Monetary Fund last year, contracted by 6.6% in 2010.


/World Bulletin/