Turkey’s Albayrak: GDP growth seen at 0.3% in 2020
Turkish economy is likely to expand 0.3% in 2020, said the Finance Minister Berat Albayrak said on Tuesday.
In the worst-case scenario, Turkey's economy could contract 1.5% in 2020, he said.
Additional quotes
Turkish GDP growth seen at 5.8% in 2021, 5% in 2023.
“Turkish unemployment rate seen at 13.8% in 2020, 12.9% in 2021.”
“Turkish inflation rate seen at 10.5% in 2020.”
“Turkish inflation rate seen at 8% in 2021, 4.9% in 2023.”
“Turkish current account deficit-to-GDP seen at -3.5% in 2020.”
Market reaction
The Turkish lira shrugs-off comments from the Finance Minister, as the rout extends into a fifth straight week.
USD/TRY refreshed record highs at 7.8542 in the last hour, now trading at 7.8473, still up 0.60% on the day.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
