Head of presidency’s Finance Office says thanks to good virus management, Turkish economy to shrink less than rest of globe
Turkey will enjoy great advantages after the coronavirus thanks to its imposing partial lockdowns, according to an official with the Turkish Presidency.
“We will not be in the mode of turning on and off the engine [economy] after getting back to normal, as it’s now in idle mode,” Goksel Asan, Finance Office chief at the presidency, told Anadolu Agency.
He said the world economy is expected to shrink this year due to the virus, but that Turkey will end the year with a more moderate contraction.
“The most important factor here is management of the pandemic,” Asan said, adding that the virus having reached Turkey later than other countries played an important role.
Asan underlined Turkey has not closed its economy fully as it managed to maintain production.
Asked about the future of international trade, Asan stressed that protectionism in agriculture and the healthcare sector will rise due to the crisis.
“Such a process in Turkey will be inevitable, we will be seeing [a shift towards] domestic production in the field of health,” he added.
Since appearing in Wuhan, China, last December, the novel coronavirus has spread to at least 185 countries and regions.
Data compiled by the U.S.’ Johns Hopkins University shows worldwide infections have reached nearly 2.5 million, with the death toll above 171,000, while over 658,000 people have recovered.