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Turkey: No Turkey


In Business This Week: CLOSING BELL

TURKEY: NO TURKEY

There's a lesson of sorts for Mexico in Turkey, home of the world's hottest stock market. This year, the Istanbul Stock Exchange's composite index has soared some 50% in dollar terms. Why? Since a Mexico-like currency meltdown in early 1994, Turkish companies have cut costs and targeted export markets in Europe and the Mediterranean. The result: Corporate profits should grow by about 25% in 1995. And inflation, 125% in 1994, is headed toward 70%.EDITED BY KEITH H. HAMMONDS


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