Deloitte Turkey released the results of its Private Equity Confidence Survey (PECS) for the first half of the year on Tuesday, revealing that expectations for the future of the economy have grown more positive, as a large number of Turkish investors said they expected the overall economic climate to improve in the next six months. The Deloitte poll found that the number of investors who expected recovery in the economy had increased to 44 percent. This was the highest figure seen in the past two years -- up from 23 percent in the second half of 2009 and zero percent during the three preceding halves, a period during which most investors remained pessimistic regarding the economic climate.
The report found that while the majority of Turkish entrepreneurs were cautious about future developments in the markets, the number of those who feared frequent ups and downs in the economy had declined. Evaluating the results, Deloitte Turkey Corporate Finance Partner in Charge Anthony Wilson said it is encouraging that more investors in the Turkish market are making “concrete” plans in the long run when compared to the past year. He said the results of the poll showed that the Turkish economy has entered a recovery trend in terms of new investment opportunities.
Another fact in the report supporting an expected recuperation was that 63 percent of investors said they anticipate a minor increase in allocation toward Turkish opportunities, while 19 percent expect a significant increase.
