The World Bank has projected Turkey’s economy to expand by 0.5% this year, 3 percentage points lower than the pre-coronavirus estimate. 

The uptick in the country’s gross domestic product (GDP) is expected to be supported by “strong” government stimulus, the bank said in its Spring 2020 Economic Update for Europe and Central Asia late Wednesday.

Pointing to the country’s growth last year on the back of a strong fourth quarter, driven by private consumption, the bank said COVID-19 imperils both stability and growth prospects.

The bank estimated that growth will pick up steam in 2021-22 to hit 4%.


Read more: World Bank: Turkish economy to grow 0.5% in 2020