In the Media: Turkey: A Former Emerging Market Star Stumbles

06 August 2015 12:57PM

In the span of just four years, Turkey’s GDP growth has slowed significantly, from a high of 9.2 percent in 2010 to a lackluster 2.9 percent last year. Experts believe the country “needs a boost in political confidence in order to grow,” according to CNBC, but that may be difficult given the current political landscape.

Commenting on the recent turnover in Turkey’s parliament, Turkish-American Professor Timur Kuran, an economist who specializes in the region, said many Turks are worried that President Erdogan’s administration could take authoritarian measures in an attempt to retain control.

“Mostly secularists, but religious and ethnic minorities (in Turkey) also, are taking their investments abroad,” Kuran said.

Read the full article at CNBC.