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Finance of Turkey

The minimum monthly wage in Turkey is 428 USD. Turkey has a government debt of 35.5% of the country's Gross Domestic Product (GDP), as assessed in 2013. With regard to consumer prices, the inflation rate in Turkey is 7.6%. The currency of Turkey is Turkish lira. There are several plural forms of the name 'Turkish lira'. These are lire, liras. The symbol used for this currency is ₺, and it is abbreviated as TRY. The Turkish lira is divided into kurus; there are 100 in one lira. Each year, consumers spend around $582,731 million. The ratio of consumer spending to GDP in Turkey is 0.07%, and the ratio of consumer spending to the world consumer market is 135%. The corporate tax in Turkey is set at 20%. Personal income tax ranges from 15% to 35%, depending on your specific situation and income level. VAT in Turkey is 18%. In 2013, Turkey received 3033.1 million USD in foreign aid.In 2014, the foreign aid amounted to 3188.9 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Turkey is $1,514,859 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Turkey was last recorded at $18,492,637. PPP in Turkey is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Turkey is 822,149 billion. Based on this statistic, Turkey is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Turkey. The Gross Domestic Product (GDP) per capita in Turkey was last recorded at $10,036,382. The average citizen in Turkey has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Turkey averaged 3% in 2014. According to this percentage, Turkey is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.