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20 Aprile 2021

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TURKEY EXPECTS DOUBLE-DIGIT GROWTH IN Q2 AFTER 5% EXPANSION IN Q1

Turkey’s economic growth in the first quarter is expected to come in at around 5% and rise to double-digits in the April-June period due to a so-called base effect, the country's treasury and finance minister said Monday.Turkey was one of only a few countries to avoid an economic contraction in last year’s coronavirus fallout and the only country along with China to have registered a growth among G-20 members.The GDP grew 5.9% in the fourth quarter and 1.8% in 2020 as a whole.It contracted around 10% in the second quarter but recovered thanks to a burst of state bank lending in the second half of the year.The growth is expected to surge to 14.9% in the second quarter of 2021 due to a so-called base effect, according to the median forecast in a recent Reuters poll of 34 economists.The economy is expected to expand by 4.8% in 2021 and 3.7% next year, the survey showed.Along with a rebound, inflation is forecast to remain the economy’s main issue.The annual consumer price inflation edged higher in March to above 16%, signifying the need to maintain the tight monetary policy, while producer prices surged beyond 31%.The Central Bank of the Republic of Turkey (CBRT) expects inflation to drop to 9.4% at year-end and has pledged tight policy until it hits the 5% target in 2023.Inflation is expected to peak at as high as 18% in April before dipping afterward.FONTE: DAILY SABAHELABORAZIONE: NEMIKA CIANTRA YÜKSELCONTATTI: istanbul@ice.it (ICE ISTANBUL)


Fonte notizia: DAILY SABAH