AA Finans Survey: Economists Project 5.9% GDP Growth for Q1 2024

Economists participating in AA Finans’ expectation survey estimate that Turkiye’s Gross Domestic Product (GDP) grew by 5.90% on an annual basis in the first quarter of 2024.

The survey, which included 14 economists, was conducted ahead of the Turkish Statistical Institute’s announcement of Q1 GDP data on Friday, May 31.

Survey Results and Projections

According to the survey results, economists project a growth range between 4.20% and 7% for Q1 2024, with an average estimate of 5.90%. For the entire year of 2024, the average growth expectation among economists is 3.38%, with estimates ranging from a low of 2.90% to a high of 4%.

Looking ahead to 2025, the average growth forecast from the 14 economists is 3.56%.

Historical Context

The Turkish economy recorded a 4% growth rate in both the first and fourth quarters of the previous year.

Source: AA / Prepared by Irem Yildiz

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