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GENERAL INFORMATION
50
CORPORATE MANAGEMENT
67
FINANCIAL INFORMATION
A&T BANK 2013 ANNUAL REPORT
When we look at the labor market,
it is evident that unemployment has
dropped to single digit figures and
this downward trend continues. The
seasonally adjusted unemployment
rate displays a steady downwards trend
due to entries into the labor force.
Thus, improvement in employment and
increasing trend of labor force entry
indicate that positive progress in the
labor market data is ongoing.
The ratio of private sector savings
to GDP is expected to decline from
11.6% in 2012 to 9.7% in 2013 mainly
due to the rapid increase in private
consumption. In the meantime, public
sector savings rate, which was 2.9% in
2012 is anticipated to remain the same.
Accordingly, gross domestic savings
ratio will decline by 1.9 point to 12.6%
in 2013.
4%
Growth
During the first three
quarters of 2013, Turkish
economy grew by 4%.
2013
7.40%
2012
6.16%
2011
10.45%
Inflation (CPI)
*As of the first 3 quarter
GDP Growth
2013*
4.0%
2012
2.2%
2011
8.8%
Since the developments in financial
markets occurred during the last month
of the year indicates a deteriorated
outlook for 2014, predictions are
continually under revision. Under the
existing conditions, GDP growth and
inflation are expected to be 3% and
7.5%, respectively in 2014. Accordingly,
it is foreseen that Turkish lira interest
rates will be double-digit levels whereas
current deficit will be reduced.