Money

Turkish economy to narrow in Q2: Survey

Economists’ forecasts vary between -7% and -15 for this April-June

The Turkish economy is projected to have contracted 11% year-on-year in the second quarter of 2020, an Anadolu Agency survey found Thursday.

Next Monday, the country’s statistical authority TurkStat will release gross domestic product (GDP) figures for this April-June.

A panel of 17 economists forecast an average of 11% negative growth year-on-year in the second quarter, hovering between -7% and -15%.

The economists also predicted that Turkey’s annual GDP in 2020 would narrow 1.8% on average the highest at -3.8%, the lowest at -0.5%.

The country’s GDP expanded 4.5% in the first quarter of 2020.

The Organization for Economic Cooperation and Development (OECD) announced on Wednesday that in the second quarter of 2020,GDP in the OECD area narrowed by 10.9% on a yearly basis.

Image :Unsplash

Source
Anadolu Agency

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button