|BRIEF ON TURKISH ECONOMY
Turkey is a vastly developing country with its tourism. Also Turkey is very advance in textile industry and manufacturing of white goods, plus, automotive(both manufacturing and assembling), chemicals, construction steel, cement production and agriculture.
Throughout history Turkey...
Turkey has always been an agricultural country but after 1970's, thanks to entrepreneur businessmen and Governments'' incentive policies, the economy made a considerable jump and this goes on in a very positive path. Manufacturing has grown significantly during the last 20 years . Also; Turkey's certain agricultural goods; such as cotton, wheat, tobacco, tea, rice, dried figs and apricots, hazelnuts and fruits still covers a big share of Turkish economy. Turkey is one of the few self sufficient country in basic foodstuffs.
Turkey launched a new currency at midnight on 1 January 1st, 2005 by dropping six zeros from the old one, in a sign of progress in its decades-long struggle with inflation. This means; old Turkish currency officially replaced as the New Lira of Turkey.
Under the new system one New Turkish Lira is equivalent to about 75 cents USD -the price of about three loaves of bread-. Both old and new Liras will be in use together until Jan. 1, 2006, after that, holders of the old currency will have 10 years to convert it to new bank notes.