Morgan Stanley forecasts continuation of growth trend

International investment bank ''Morgan Stanley'' forecast that last year's growth trend in Turkey would also continue in 2005 and the following year. In an analysis on the growth rate of 2004 announced today (Thursday), Morgan Stanley recalled that the growth rate in Gross National Product (GNP) was recorded as 9.9 percent, and the growth rate in Gross Domestic Product (GDP) was announced as 8.9 percent in 2004.Morgan Stanley said that 7.2 percent of growth rate was forecast for this year on the basis of GDP, and this rate was expected as 6.8 percent for the following year.The GDP could be increased by 30-45 percent as Turkish State Institute of Statistics (SIS) had changed its method to calculate the national income as a part of its initiatives for adjustment to the European Union (EU), Morgan Stanley stated.The international investment bank said that current deficit and public debt stock could decrease as GDP increased as a result of this new calculation.The growth rate of GNP was 5.9 percent, and of GDP was 5.8 percent in 2003.Â