Turkey’s economy grew in the second quarter above market expectations to 3.8% year-on-year, according to data released Thursday by the Turkish Statistical Institute (TÜİK), beating the 3.5% of GDP increase that economists had on average anticipated between April and June.
The figure comes after the Turkish economy posted a revised growth of 3.9% in the first quarter, and means Turkey’s Gross Domestic Product grew by 60.7% year-on-year to €250 billion, according to TÜİK. Treasury and Finance Minister Mehmet Şimşek highlighted Turkey’s good growth figures despite tightening global financial conditions and a slump in world trade, even after Turkey suffered one of the worst earthquakes in its history, causing losses of around $100 billion.
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Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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