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07-04-20
Economy will catch up with its sustainable trend of growth next year: Turkey
(MENAFN) According to a Fitch Ratings' sovereign team director, Turkey's economy will catch up with its maintainable trend of expansion next year.
Douglas Winslow said that, Turkey's gross domestic product (GDP) will increase by 4.5 percent in 2021 after struggling this year over the COVID-19 pandemic.
He said that, "in the first quarter of this year, economic growth had accelerated to above 6 percent ... we now anticipate a very sharp contraction in the second quarter, flatter growth in the third quarter, and then recovery in the fourth quarter, as activities begin to normalize after the partial lockdown."
In 2019 Turkey's economy posted expansion of 0.9 percent, as the Turkish Statistical Institute (TurkStat) informed.
MENAFN0704202000450000ID1099982382
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