• İstanbul -5 °C
  • Ankara -12 °C

Turkey posts 6.7% y-o-y economic growth in Q3

Turkey posts 6.7% y-o-y economic growth in Q3
Country's gross domestic product at current prices registers at $197.4B from July to September this year

By Tuba Sahin

ANKARA (AA) - The Turkish economy registered growth of 6.7% in 2020's third quarter despite the novel coronavirus outbreak, according to data the Turkish Statistical Institute (TurkStat) released Monday.

The country's gross domestic product (GDP) at current prices stood at 1.4 trillion Turkish liras ($197.4 billion) in July-September, TurkStat said.

This figure was well above market expectations as a panel of 17 economists surveyed by Anadolu Agency on Thursday had estimated the Turkish economy would expand by 5% in the same period.

They also predicted that Turkey's annual GDP in 2020 would grow by 0.3% on average, but the surprising figure will likely move estimations up for the year's end.

The current new economic program in place also expected the Turkish economy to grow 0.3% this year. The economy is projected to expand by 5.8% in 2021 after deferred consumption and investments are put into use and tourism revenues normalize.

GDP targets in the program are $702 billion for 2020 and $735 billion for the next year.

The country's GDP expanded 4.5% in the first quarter of 2020 and narrowed by 9.9% in the second due to the pandemic's effects on the economy.

source: News Feed
This news is a total 16 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim