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March 15, 2019 www.intellinews.com
Fallen star: First recession in Turkey for a decade
Akin Nazli in Belgrade
No longer an emerging markets star performer, Turkey has fallen into its first recession since the financial crisis a decade ago. Its seasonally and calendar-adjusted GDP contracted by 2.4% q/q in Q4, following the 1.6% q/q contraction recorded in Q3, statistical institute TUIK said on March 11.
A Reuters poll released last week forecast a
"Agro-superpower" Russia will harvest 118mn tonnes of grain in 2019, minister says
bne IntelliNews
Russia will harvest no less than 118mn tonnes
of grain in 2019, including 75mn-78mn tonnes of wheat, Agriculture Minister Dmitry Patrushev told the PRIME news outlet on March 14.
“Last year the grain harvest exceeded 113mn tonnes, significantly overshooting average annual figures for the past five years. This year we may
GDP contraction of 2.7% for Q4 and 2.55% for all of 2018.
TUIK’s data also showed that the Turkish economy contracted at a worse-than-expected 3% y/y in
the final quarter of last year but grew at a slightly
See page 2
harvest at least 118mn tonnes of grain, including 75mn-78mn tonnes of wheat,” he said.
The forecast for 118mn tonnes of grain is down on the record 135mn tonnes that Russia brought in in 2018, but still well ahead of the five year average.
See page 6