Erdogan: Turkey to Be in Top 10 World Economies by 2023

Erdogan says Turkey will be among the 10 largest world economies in 13 years. EPA/BGNES

Turkey will become one of the ten largest world economies by 2023, Turkish Prime Minister Recep Tayyip Erdogan has forecast.

Turkey is one of the G-20 countries and is currently ranked as the 17th largest world economy with a nominal GDP of about USD 615 B in 2009, according to the major international financial institutions.

Turkish Prime Minister pointed out that for his forecast to come true Turkey must focus on research and development and innovation.

"We cannot achieve this goal by only monitoring or copying developments," Erdogan said on Friday at Istanbul's Bogazici University, where he inaugurated a new hi-tech park.

Erdogan emphasized that at present Turkey is third in the world and first in Europe by the percentage growth of its GDP.

After declining by almost 5% in 2009, in 2010, the Turkish economy is forecast to grow by about 8% (it registered 11.7% (Q1 2010), 10.3% (Q2 2010).

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