Economics
Turkish Economy Likely Outdid Most Peers at Lira’s Expense
- Buoyed by mix of monetary easing and state-led credit push
- Median of forecasts in survey shows GDP rose 4.8% on the year
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Turkey’s coronavirus-battered economy fared better than most peers in the third quarter, driven by a stimulus campaign that sacrificed the lira and price stability.
The $740 billion economy likely outperformed all Group of 20 nations except for China, thanks in part to a combination of interest-rate cuts, fiscal spending and a government-led credit push. Data on Monday will show gross domestic product rose 4.8% from a year earlier, according to the median of 14 forecasts in a Bloomberg survey.