The Turkish economy is recovering. Growth in the second quarter rang in at over 5% according to the government. Tourists are returning and exports to the EU increasing.
As Turkey's inflation hits its highest annual rate in 14 years, a small rate hike could be expected. But economic rationality and Erdogan’s politically coordinated cheap money boom have never been the best of bedfellows.
Fresh data is showing that rebounding exports and rising business investments were the main drivers of growth in Europe's largest economy over the summer, confirming Germany's robust expansion.
The latest OECD economic outlook predicts global growth of almost 4 percent in 2018. However, it also expresses concerns over a lack of investment, which it says could dent momentum in the global recovery.
Eating lunch in Italy's Bolgheri wine country, it is not hard to understand why the number of international visitors to this bucolic corner of Tuscany has doubled in five years.
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