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

Despite local elections defeat Erdogan “remains in control” at head of “super-executive regime”, says analyst

Despite his AKP party’s defeat in the weekend’s local elections, Turkish President ... more

Upcoming local elections in Turkey neither free nor fair says EU-Turkey Civic Commission

The upcoming March 31 local elections in Turkey will be neither free nor fair, according to the EU-Turkey Civic Commission (EUTCC), a non-governmental organisation (NGO) backed by Kurdish groups. ... ... more

Turkish footwear manufacturers step up investments in Uzbekistan’s leather and footwear industries

Turkish footwear manufacturers are stepping up their investments in Uzbekistan’s leather and footwear industries, according to local reports. A $1mn investment in the manufacture of leather, ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    10 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  5. Russia’s war economy boosted by rising oil prices
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    25 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    30 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    23 days ago

Reports

Dismiss