Turkish EconMin Caglayan: Q1 GDP growth figures may not be bright.

By bne IntelliNews June 11, 2013

Turkey’s economy minister Zafer Caglayan said on Monday that first quarter GDP figures would not be very bright but April industrial production data was promising. Turkey’s GDP is expected to grow 2.2% y/y in Q1, according to a CNBC-e poll of economists.

The calendar adjusted industrial production increased 3.4% y/y in April, the statistics institute said on Monday. Turkey’s rate of GDP growth slowed from 8.8% in 2011 to 2.2% last year. Turkey’s economy expanded 1.4% y/y in Q4/2012. While political uncertainty poses downside risks to GDP growth Deputy PM and government spokesman Bulent Arinc said on Monday that PM Recep Tayyip Erdogan agreed to meet on Wednesday with a delegation representing the protestors.

The government’s GDP growth forecast for 2013 is 4%. Last month, The Organization for Economic Co-operation and Development (OECD) cut its 2013 GDP growth estimate for the Turkish economy to 3.1% from 4.1%. Also in April, the IMF trimmed its 2013 GDP growth forecast for the Turkish economy to 3.4% from 3.5%.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Four Turkish companies reportedly consider IPOs in London or Istanbul

Turkey’s Enerjisa, Memorial Health Group, Tab Gida and Baskent Gaz are considering public offerings in London or Istanbul, unnamed sources told Bloomberg on July 19. Enerjisa, a 50:50 JV ... more

Turkey bars entry to thousands from more than 140 nations over suspected IS ties

Turkey has arrested and deported thousands of people suspected of having links to the Islamic State group according to a Turkish interior ministry report entitled “Turkey’s Fight ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    11 hours ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    20 hours ago
  3. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    1 day ago
  4. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    5 days ago
  5. Bosnia’s ruling coalition collapses
    3 days ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    11 hours ago
  2. CHINA RISING: When sleeping giants meet
    14 days ago
  3. Belarus’ retail king Euroopt goes on the road
    20 days ago
  4. STOLYPIN: Russia’s cyber-challenge cuts both ways
    22 days ago
  5. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    20 hours ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss