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Foreign companies in Turkey are beginning to feel the effects of a sagging currency, rising inflation and a growing political power struggle, adding to fears the country may not be the source of future growth that some companies had hoped.Companies are watching the fallout closely.Turkey has enjoyed strong economic growth since Erdogan came to power in 2002 .While the current instability is prompting some companies to tighten risk management – BASF said it was reducing working capital so that less cash was tied up in Turkey – none of the more than a dozen companies contacted by Reuters said they had plans to scale back investment."We monitor the situation daily but in the medium term we remain positive and ready to invest," UniCredit's CEO Federico Ghizzoni said earlier this month. He added the bank planned to hire 2,000 people and open 60 branches in Turkey this year.
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