Turkey needs to grow at least 7 pct annually to achieve economy goals

ANKARA (A.A) - 15.02.2011 - Latest figures provided by the International Monetary Fund (IMF) reveal that Turkey should achieve an annual growth rate of at least 7 percent in order to be listed among the world's "giant economies" and to leave behind such countries' current economic magnitudes.
According to calculations based on IMF figures, if Turkey achieves an average growth rate of 5 percent annually, it would manage to leave behind Canada in 2014; Spain in 2015; Italy in 2020; Brazil, Britain and France in 2024; Russia in 2025; Germany in 2030 and world's biggest economy USA in 2063, with its current Purchasing Power Parity-Gross Domestic Product (PPP-GDP) performance.
Moreover, if Turkey's average annual growth rate reaches 7 percent, it would get ahead of Spain and Canada in 2013; Italy in 2017; Brazil, Britain and France in 2020; Germany in 2025 and USA in 2048.
If Turkey achieves an average growth rate of 9 percent annually, it would be possible for the country to leave behind Italy in 5 years; Russia, Brazil, Britain and France in 7 years; Germany in 11 years and USA in 29 years.
Turkey's total economic magnitude amounts to nearly 1.119 trillion USD currently. Such figure positions Turkey in the 15th place in the world.
Below are the world's top 15 economies' estimated PPP-GDP figures for 2010 based on the data released by IMF:


PPP-GDP
(Billion USD)


1 USA 14,624.2
2 China 10,084.4
3 Japan 4,308.6
4 India 4,001.1
5 Germany 2,932.0
6 Russia 2,218.8
7 Brazil 2,181.7
8 Britain 2,181.1
9 France 2,146.3
10 Italy 1,771.1
11 Mexico 1,549.7
12 S. Korea 1,457.1
13 Spain 1,364.5
14 Canada 1,330.1
15 Turkey 1,119.0