l government spending in 2003.
Inflation, in recent years in the high double-digit range, fell to
11.3% in 2004. Perhaps because of these problems, foreign direct
investment in Turkey remains low - less than $1 billion annually.
Results in 2002-04 improved, because of strong financial support
from the IMF and tighter fiscal policy. A major political and
economic issue over the next decade is whether or not Turkey will
become a member of the EU.

Turkmenistan
Turkmenistan is largely desert country with intensive
agriculture in irrigated oases and large gas and oil resources.
One-half of its irrigated land is planted in cotton, making it at
one time the world's tenth-largest producer. Poor harvests in recent
years have led to a nearly 46% decline in cotton exports. With an
authoritarian ex-Communist regime in power and a tribally based
social structure, Turkmenistan has taken a cautious approach to
economic reform, hoping to use gas and cotton sales to sustain its
inefficient economy. Privatization goals remain limited. In
1998-2003, Turkmenistan suffered from the continued lack of adequate
export routes for natural gas and from obligations on extensive
short-term external debt. At the same time, however, total exports
rose by 38% in 2003, largely because of higher international oil and
gas prices. Overall prospects in the near future are discouraging
because of widespread internal poverty, the burden of foreign debt,
and the unwillingness of the government to adopt market-oriented
reforms. However, Turkmenistan's cooperation with the international
community in transporting humanitarian aid to Afghanistan may
foreshadow a change in the atmosphere for foreign investment, aid,
and technological support. Turkmenistan's economic statistics are
state secrets, and GDP and other figures are subject to wide margins
of error. In particular, the 20% rate of GDP growth is a guess.

Turks and Caicos Islands
The Turks and Caicos economy is based on
tourism, fishing, and offshore financial services. Most capital
goods and food for domestic consumption are imported. The US is the
leading source of tourists, accounting for more than half of the
93,000 visitors in the late 1990s. Major sources of government
revenue include fees from offshore financial activities and customs
receipts. Tourism fell by 6% in 2002.

Tuvalu
Tuvalu consists of a densely populated, s