Currency / Language


NEWS Turkish economy grows 11.1 percent in third quarter 2017

11 Dec 2017

Despite tough times Turkey has gone through in terms of politics and financial issues, the country seems to have made a very fast and strong recovery. Official data regarding the performance of Turkish economy have been released and the results have no doubt made the administration very happy.

Indeed, the growth the economy has recorded in the third quarter of the year was 11.1 percent which is a record in Turkish history.

The economy had grown by 5.1 percent in the second quarter of the year and by 5.2 percent in the first quarter of 2017.

Despite this stunning performance in the third quarter experts draw attention that the inflation is not an area the government has been very successful with and Turkey will not be able to close the current year with anything less than a double digit figure.

This certainly makes one think if this brilliant performance in growth has reflected to Turkish citizens lifting up their purchasing power. The answer to this question unfortunately tends to be a solid no. Therefore the administration will now have to attend to the issue of “How to increase the purchasing power of its citizens”.

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