Turkey

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Turkey's economy is still dealing with the effects of the global recession, having seen export markets dry up and domestic demand weaken, though it has avoided a repeat of large-scale financial meltdowns of the past and is expected to return to growth in 2010.
Turkey's banks seem to be riding out the global financial crisis having emerged from a more localised downturn eight years ago leaner and better equipped to deal with the present worldwide recession.
Turkey has high hopes of becoming a major transit hub for land and sea cargo freighting, linking Central Asia and the Middle East with Europe, though it will need to invest heavily in infrastructure if its hopes are to be fulfilled.
Although an upturn is expected in 2010, the correlated real estate and construction sectors have been scaling back as the global economic crisis takes effect, with predictions of a lean year.
Politically and economically, Turkey had a frustrating year in 2008, with the government's reform programme losing pace as a result of fighting a court battle to avoid removal from office, just as the effects of the global economic crisis began to set in.
Turkey's automotive sector, one of the driving forces behind the country's export boom, has shifted down a gear and is in danger of going into reverse as overseas and domestic sales slump.

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