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What's behind Turkish economic miracle?

Under Turkey's emergency law, big business may benefit while the middle class is fast disappearing.

In the first week of September, the Turkish Statistical Institute (TUIK) reported year-on-year second-quarter gross domestic product (GDP) growth as 5.1%. The first quarter was recorded as 5%, and Economy Minister Nihat Zeybekci predicted 7% growth rate for the third quarter. He boasted that the Turkish economy outperformed the economies of most European Union members and ranks third behind China and India among G-20 countries.

Considering that more than 100,000 people were purged from government employment, tens of private businesses were confiscated by the government after the coup attempt for being associated with the Gulen movement, and increasing social and political pressures due to the state of emergency law, several analysts have predicted a struggling economy for 2016 and onward.

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