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New data has shown that Turkish economy It fell 1.5% from one year to the next in the second quarter of this year, reinforcing doubts about its recovery, especially after losing Turkish lira 30% of its value last year.
Due to the growing turmoil of the Turkish economy over the past three years, inflation and interest rates have risen as domestic demand has fallen sharply against the backdrop of 39, a general recession.
Turkey continues to suffer from the loss of confidence of consumers, businesses and local and global investors in the quality, predictability and credibility of economic policies.
Global economic organizations have reduced their expectations of Growth of the Turkish economy In 2020, it was only 3.2 to 1.6%, which indicates a persistent uncertainty among investors.
A monetary crisis caused last year Loss of reading About 30% of its value against the dollar, which pushed the economy into recession, while the Turkish currency continued to fall in 2019.
Turkey entered recession earlier this year for the first time since 2009, according to data released in March, against a backdrop of a contraction in GDP of 3%.
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New data showed that the Turkish economy contracted by 1.5% in the second quarter of this year, reinforcing doubts about its recovery, especially after the 30% loss of the Turkish lira. last year.
Due to the growing turmoil of the Turkish economy over the past three years, inflation and interest rates have risen as domestic demand has fallen sharply against the backdrop of 39, a general recession.
Turkey continues to suffer from the loss of confidence of consumers, businesses and local and global investors in the quality, predictability and credibility of economic policies.
World economic organizations lowered their economic growth forecasts for Turkey in 2020 from 3.2 to 1.6%, due to persistent investor uncertainty.
Last year, a currency crisis caused the lira to lose about 30% of its value against the dollar, pushing the economy towards recession, with the Turkish currency continuing to fall in 2019.
Turkey entered recession earlier this year for the first time since 2009, according to data released in March, against a backdrop of a contraction in GDP of 3%.
