Tourism & agriculture provide higher economic growth

Published on : Thursday, July 27, 2017

TurkeyThe experts recently have emphasized Turkey’s revival in terms of economic growth. It was found at 5 percent in the first quarter of 2017. However, international institutions and experts have highlighted an upward trend whatsoever.

The International Monetary Fund’s (IMF) recent World Economic Outlook (WEO) report, where one can find an assessment of Turkey in the “Emerging and Developing Europe” section, mentions that the growth in pertinent country group will speed up parallel and positive expectations about Turkey.

The last quarter of 2016 witnessed a strong recovery of the export of Turkey, as mentioned in the report. On the hand, first quarter of 2017 shows that external demand in terms of Turkish goods has the possibility to increase with expectations for Eurozone countries.

As per IMF analysis, the growth forecasts for Turkey was recorded at 2.5 percent for 2017 and 3.3 percent for 2018, anticipation for an upward revision, has also grown in the meanwhile.

While talking to Anadolu Agency (AA), Ziraat Bank Economist Bora Tamer Yilmaz expressed that the average growth rate of Turkey in a quarter was 1.1 percent, as per the renewed GDP series. Simultaneously, he also adds that expectations about Turkey should begin in stationary period at an annual growth rate of 4.4 percent respectively.

“However, as the strong performance in the first quarter become clear, it can be said that the 5 percent growth was not limited just to headline data,” he said.

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