In 2002, Erdoğan inherited a Turkish economy that was beginning to recover from a recession as a result of reforms implemented by Kemal Derviş. Erdoğan supported Finance Minister Ali Babacan in enforcing macro-economic policies. Erdoğan tried to attract more foreign investors to Turkey and lifted many government regulations. The cash-flow into the Turkish economy between 2002 and 2012 caused a growth of 64% in real GDP and a 43% increase in GDP per capita; considerably higher numbers were commonly advertised but these did not account for the inflation of the US dollar between 2002 and 2012. The average annual growth in GDP per capita was 3.6%. The growth in real GDP between 2002 and 2012 was higher than the values from developed countries, but was close to average when developing countries are also taken into account. The ranking of the Turkish economy in terms of GDP moved slightly from 17 to 16 during this decade. A major consequence of the policies between 2002 and 2012 was the widening of the current account deficit from US$600 million to US$58 billion (2013 est.)