EU Council raises Turkey's GDP growth forecast for 2019

ISTANBUL

European Council’s report, “Autumn 2019 Economic Forecast,” on Thursday raised its growth expectation for Turkey’s GDP this year from minus 2.3% to 0.3%.

The report, of which previous version was released last Spring, also expected that the Turkish economy will grow 3.1% in 2020 and 3.5% in 2021.

Meanwhile, the report’s previous 2020 forecast for GDP growth was 3.9%.

“The economy recovered faster than expected from last year’s currency crisis, supported by a large fiscal stimulus and strong growth contribution of net exports,” the report said.

The Turkish economy grew 7.4% in 2017 and 2.6% last year.

The country’s

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