Turkish Economy Beats All G-20 Nations With Double-Digit Growth
- Gross-domestic product expands 11% in 2021, 9.1% in 4Q
- Exports, consumption got a boost from EU recovery, rate cuts
Shoppers in the Grand Bazaar in Istanbul.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
Turkey’s economy expanded faster than peers in the fourth quarter as interest-rate cuts spurred a recovery from the pandemic, but the subsequent rise in the inflation rate could dent growth this year.
Gross domestic product rose 9.1% in the October-to-December period from a year earlier, bringing the full-year expansion to 11%. The quarterly growth beat the median estimate of 9% in a Bloomberg survey, and the annual figure is the highest among G-20 nations.