Survey expects 5% growth in Turkish economy in Q3

ISTANBUL

Turkey’s economy is projected to have expanded by 5% year-on-year in the third quarter of 2020, an Anadolu Agency survey found Thursday.

The country's statistical authority TurkStat will release gross domestic product (GDP) figures for the July-September period on Monday.

A group of 17 economists forecast an average of 5% positive growth year-on-year in the third quarter, hovering between 3.5% and 6.8%.

The economists also predicted that Turkey's annual GDP in 2020 would grow by 0.3% on average – the highest at 1%, the lowest at 0%.

The country's GDP expanded 4.5% in the first quarter of 2020 and narrowed by 9.9% in the second quarter, due to the pandemic's effects on the economy.

*Writing by Gokhan Ergocun