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]