Turkey, Politics

Turkey's growth in 2018 should top estimates: Erdogan

President Recep Tayyip Erdogan says economy grew in 2018 despite plot of inflation, interest rates, and exchange rates

Turkey's growth in 2018 should top estimates: Erdogan

By Diyar Guldogan


Once the figures are announced, Turkey's economic growth in 2018 is likely to beat the estimates, President Recep Tayyip Erdogan said on Friday.

"Hopefully, growth in 2018 will be above estimates despite the plot that was launched against our country using the triad of exchange rates, interest rates, and inflation," Erdogan told a meeting of ruling Justice and Development (AK) Party provincial heads in the capital Ankara.

Erdogan said Turkey's economy grew 7.4 percent in 2017 compared to the previous year, adding that Turkey now has the world’s 13th-largest economy based on purchasing power parity.

For 2018, the current World Bank estimate for Turkey's growth is 3.5 percent. 

Erdogan also touted the government’s dedication to fighting inflation, saying that over 16 years of AK Party rule, the average inflation rate was 9.5 percent, far better than previous governments.

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