A top economist at Goldman Sachs has forecast that South Korea, Mexico, Indonesia and Turkey will join the ranks of “growth economies” next year.

Chairman of Goldman Sachs Asset Management Jim O'Neill made the projection when he appeared on CNBC Tuesday. He said the four countries, which he called “MIKT” will, combined with the BRICs, produce one percent or more of global gross domestic product and are likely to see their share grow.

CNBC noted that O'Neill is the man who first coined the phrase BRICs for the up-and-coming markets of Brazil, Russia, India and China.

O’Neill also projected that improving growth, flailing unemployment and a sense that the U.S. is returning to "normal" could fuel a 20 percent stock market gain and make 2011 the "Year of the USA.”