Turkey Posts Largest GDP Growth in the World in Third Quarter
At a time when almost all economies in the world have been staggering under the burden of the COVID-19 outbreak, Turkey managed to handle this period with trivial damage and ended the 3rd quarter of 2020 with a noteworthy performance.
According to the data of the Turkish Statistical Institute (TurkStat), Turkey’s economy posted a growth rate of 6.7 percent in 2020 Q3 and the GDP at current prices reached TRY 1.4 trillion. With this outcome, Turkey ranked first in the world and became the only OECD member country to post a positive growth during this period.
The recovery in the Turkish economy was observed following the normalization steps taken by the government in the third quarter.
Source: Republic of Turkey Investment Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
