Page 10 - TURKRptNov20

source: imf, tuik, treasury, central bank
In August, finance minister Berat Albayrak said GDP would show between 1% growth and 2% contraction in 2020. Forecasts will converge to Albayrak’s order to the statistics institute.
Turkey’s economy looks set to clock up growth of 0.3% this year, Turkish finance minister Berat Albayrak ​said​on September 29 as he outlined the country’s medium-term plan. In a worst case scenario, Turkish GDP may shrink 1.5% this year, he cautioned.
Bankers calculated that the government assumed a much lower exchange rate for its forecasts.
The World Bank ​stuck​on October 7 with its 3.8% contraction forecast for Turkish GDP in 2020.
The IMF ​said​on October 13 that it is sticking to its June forecast that Turkey's GDP will contract by 5% this year.
4.0​ Real Economy 4.1​ Industrial production
Official seasonally-adjusted industrial production index jumped 10.4% y/y in August, data from the Turkish Statistical Institute (TUIK) ​showed​on October 13.
4.2​ Inflation
Turkey’s official consumer price inflation very slightly ​edged​down to 11.75% y/y in September from 11.77% in August.
No serious Turk ​believes​that it is in reality below 30%.
10​ TURKEY Country Report​ November 2020 ​ ​www.intellinews.com