Turkish investment and related exchange traded fund (ETF) is ripe with opportunity as public investment spending is forecast to rise 11.8% year-on-year, to $29.7 billion in 2009.

Turkish government is set to push on with the privatization of the partly state owned Halkbank, if market conditions remain favorable, reports Hatice Aydogdu for Reuters.

Next year municipal elections will be held and economists fear that pro-business, pro-reform government may dampen fiscal strength  before elections. Meanwhile, for the present year, the Turkish economy will continue to expand globally and focus on integration, reports Hot News for Turkey.

For 2008, the trade volume is targeted at $350 billion, great news for iShares MSCI Turkey Investable Market Index (TUR). It’s down 2.4% since its inception on April 1. Halkbank is 3.6% of the fund.

Tags: Eastern Europe, Emerging Markets, TUR, Turkey