Turkey's GDP growth rate slowed down in Q4 2020
Spurred by an easing of COVID-19 restrictions and substantial monetary policy expansion boosting liquidity, Turkey’s economic recovery was maintained in the final months of 2020.
Although GDP growth slowed to 5.9% y/y in Q4 from 6.3% y/y in Q3, it had contracted by 10.3% y/y in Q2 while GDP also rose by a seasonally and calendar-adjusted 1.7% q/q in Q4.
This led to a year-average growth rate of 1.8% for 2020, rising from 0.9% in 2019.
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