Economic scare over decline
The economic slowdown experienced since 1998 has turned into decline. The GNP that had climbed 9.2% in the first three months of last year, dived 8.4% this year. The first three months of 1999 has been the worst period of Turkish economy since the approximate 10% decline of 1994 after the economic package introduced. In the first three months, there has been an output of product and service worth 128 billion lira, while the output for the same period of last year was 23 trillion 984 million. Data from the State Statistics Institute shows that Gross domestic product was down 8.5% year on year in this period of time.
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