Fitch Ratings | Turkish Economy is Expected to Grow After the Corona Crisis

The Turkish economy has witnessed progress in the first quarter of this year, it is expected to achieve 4.5% growth in 2021

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2020-04-08 Last update 2020-04-24

Fitch Ratings | Turkish Economy is Expected to Grow After the Corona Crisis

After the Corona crisis that hit Turkey and most of the world, there are expectations that the Turkish economy will achieve a growth of 4.5% in 2021.

The Turkish economy will grow by 4.5% in 2021

In statements to Anadolu Agency, the director of the "Fitch" international credit rating agency, Mr. Douglas Winslow, stressed that the Turkish economy 2020 will witness an escalating growth after the difficult period that the country went through during Corona crisis which struck many countries of the world.

‎Turkish economy 2020

In his speech, Winslow added: "It is expected that the Turkish economy will achieve an increasing growth in the third quarter of 2020 and that the growth rate will reach 4.5% in 2021. "

"The Turkish economy witnessed a growth rate of 6% in the first quarter of 2020, i.e. before the Coronavirus crisis begins, and as a result of this crisis, they expect a severe decline in the second quarter of 2020," Winslow added.

And regarding the performance of the Turkish economy in the third and fourth quarters of this year, Mr. Winslow predicted that the growth of the economy in Turkey would take a horizontal curve in the third quarter of 2020, and as the crisis of Coronavirus ends and life gets back to normal, the conditions will start to improve in the last quarter of 2020.

"We expect Turkey's economy to achieve progress of 4.5 % in 2021, and we consider this a good percentage of growth," Mr. Winslow said.

Regarding the report that was published last week, Fitch Ratings expected that the global economy will achieve a 1.9% decline this year.

You can learn about the most profitable fields of investment in Turkey through this link.

Turkey's economy

Edited by: Imtilak Real Estate©

SourceDaily Sabah

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