The world witnessed great changes in the political, social and economic spheres during 2008.  The year was dominated by the global crisis and its financial and economic repercussions as well as by political tension on the national stage.

Mustafa V. Koç

Chairman

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We will remember 2008, for the severe economic volatility that shook economies all across the world. The resulting uncertainty in the markets, made it difficult to forecast the direction or duration of the crisis. The crisis has taken its toll on Turkey as well. After 27 consecutive quarters of growth, our gdp decreased by 6.2% in the last quarter of 2008. Our government has taken numerous measures to reduce the impact of the contraction in the markets.

Dr. Bülent Bulgurlu
CEO

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