Turkish Economy Grew 6% in Final Quarter of 2019

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Turkey’s Gross Domestic Product (GDP), on Friday, enjoyed strong growth of six per cent year-on-year in the fourth quarter of 2019.

This is according to official data released by the Turkish Statistical Institute (TurkStat).

According to data published by the institute, showed overall, the Turkish economy registered 0.9 per cent annual growth in 2019.

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TurkStat said compared with the third quarter, GDP grew 1.9 per cent in the last three months of 2019, driven by a surge in household consumption.

“The imports of goods and services increased by nearly 30 per cent in the final quarter when compared to the same period of a year ago,“ TurkStat said.

Ankara has set a 5 per cent growth target for 2020 and dramatically cut key interest rates in the second half of 2019, to help rejuvenate markets.

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