Turkish Economy Stumbles, Risks Worse Pre-Election Downswing
- GDP growth decelerates to annual 3.9%, slowest since 2020 drop
- Turkish inflation crisis is starting to take toll on economy
The uptick is eroding disposable incomes and weakening consumers’ purchasing power.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
Sign up for our Middle East newsletter and follow us @middleeast for news on the region.
Turkey’s economy fared worse than forecast as it grew at the slowest pace since a contraction at the height of the global pandemic in 2020, a downswing likely to alarm President Recep Tayyip Erdogan ahead of elections next year.