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Turkey set to rebound from virus contraction with record growth

Turkey set to rebound from virus contraction with record growth
gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.

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Pandemic Binge Likely Spurred Turkey to Top of Growth League


Pandemic Binge Likely Spurred Turkey to Top of Growth League
Bloomberg
3/1/2021
Cagan Koc
(Bloomberg) Turkey’s $736 billion economy outperformed major competitors in the final quarter, as rate cuts and a spending-and-credit binge beat back pandemic restrictions even as the lira collapsed, data will likely show Monday.
Gross domestic product probably rose 6.9% from a year earlier, according to the median of 20 forecasts in a Bloomberg survey, more than in any other G-20 nation, including China. The growth push weakened the currency by 20% in 2020 and kept headline inflation in double digits for the entire year.
The data will expose the challenge facing central bank Governor Naci Agbal as he looks to cool growth and restore price stability without triggering a steep slowdown in activity and a jump in unemployment. ....

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