Turkey’s economic growth to exceed expectations in Q1

‘I do not expect Turkish economy to face risks,’ says finance minister on fallout from coronavirus

Turkey’s economic growth will exceed expectations in the first quarter with a slight slowdown in March due to the coronavirus outbreak, the country’s finance minister said Thursday.

“Turkey prioritizes measures to keep a solid economy in line with 2020 targets,” Berat Albayrak said, in an live broadcast by Anadolu Agency in Istanbul.

Brushing aside bearish market predictions, he said: “I do not expect Turkish economy to face risks for now.”

Turkey will come out of this stronger than other countries, he added.

The finance minister ruled out a possible curfew in the country as a preventive measure against coronavirus.

Giving details about a 100-billion Turkish lira ($15.4-billion) coronavirus relief package announced on Wednesday, he said it will provide a 50- to 60-billion lira ($8-9-billion) liquidity to markets over the next three months.

COVID-19 emerged in Wuhan, China last December, and has spread to at least 159 countries and territories. The World Health Organization has declared the outbreak a pandemic.

Out of over 222,000 confirmed cases, the death toll now exceeds 9,100, according to data compiled by Johns Hopkins University.

Despite the rising number of cases, most people who get infected suffer only mild symptoms and recover.

Anadolu Agency

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