Turkey’s economy will expand less than the government projected this year as the fallout from an attempted coup weighs on activity and the outlook for global growth deteriorates, Deputy Prime Minister Mehmet Simsek said.
Conditions have changed since the Turkish government announced its medium-term economic program in January, which targeted 4.5 percent expansion this year, Simsek said in an interview with state-run TRT. Downside risks in the third quarter have increased after an attempt by a faction of the military to overthrow the government left more than 200 dead and sent markets tumbling.
