ECONOMY

Turkish economy to grow more than 5 pct in 2021, minister says

Turkish economy to grow more than 5 pct in 2021, minister says

Turkey’s finance minister said on Thursday that the country’s gross domestic product will grow at a more than 5% rate this year, helped along by export growth of between 16% and 20% after a pandemic-hit 2020.

In a televised interview on CNN Turk, Lutfi Elvan repeated the economy would log double-digit GDP growth in the second quarter.

Defense and auto exports will help balance the large current account deficit, he added.

A Reuters poll from April 6-13 forecast 4.8% economic growth in 2021, and 14.9% in the second quarter due to a so-called base effect after a pandemic-hit 2020. The economy expanded 1.8% last year.

[Reuters]

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.