Economists expect recovery in Turkey's GDP: Survey

Murat Aslan

ISTANBUL (AA) - The Turkish economy, which narrowed 2.6% year-on-year in the first quarter of 2019, is expected to shrink 1.8% in the second quarter, according to an Anadolu Agency survey.

Among a group of 14 economists surveyed by Anadolu Agency, growth expectations hovered between negative 1% and negative 2.5%.

Year-end growth was expected at 0%, with the highest forecast being 0.7% and the lowest negative 0.8%.

The Turkish economy, which started to narrow by the last quarter of 2018, posted 2.6% growth in 2018.

Meanwhile, the World Bank's Global Economic Prospects report forecasted that the Turkish economy would resume growth by 2020.

Another Anadolu Agency survey showed that the annual inflation rate would drop to 15.6% in August, from 16.65% in July.

Economists also expect that the year-end inflation rate would be 14.6%.

The Turkish Statistical Institute is to release GDP figures on Monday and inflation statistics on Tuesday, next week.

*Writing by Gokhan Ergocun