Turkey’s economy grew 4.5 percent year-on-year in the first quarter of 2020, the country’s statistical authority announced Friday.
ECONOMISTS EXPECT ECONOMY TO EXPAND 5.2 PERCENT
According to the Turkish Statistical Institute (TurkStat), gross domestic product (GDP) at current prices amounted to 1.07 trillion Turkish liras ($176.1 billion) in the January-March period.
“Seasonally and calendar adjusted GDP increased by 0.6% compared with the previous quarter,” the institute said.
A group of 16 economists had projected the Turkish economy to expand 5.2 percent in the first quarter of this year. Economists’ forecasts hovered between 4.4 percent — the lowest estimate — and 5.8 percent.
The economists also predicted that Turkey’s annual GDP in 2020 would narrow 1.5 percent on average.