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   USD/TRY (eop, Aug 28)
 2.92
   3.53
    3.79
    5.29
    5.56
    5.79
    5.65
    5.95
    5.95
  6.61
  6.85
 7.33
    source: imf, tuik, treasury, central bank
 3.1 ​Macroeconomic overview
        On August 12, Erdogan’s son-in-law and finance minister Berat Albayrak ​said Turkey would show between 1% GDP growth and 2% contraction in 2020​. He also said ​the budget deficit would likely be around 5-6% of GDP​.
The Turkish economy likely shrank by around 10.7% y/y in the second quarter, according to a poll ​cited​ by Dunya newspaper on August 27.
The Turkish Statistical Institute (TUIK) would publish the GDP figure on August 31.
In an August 27 article headlined “Turkey Braces for Yet Another Currency Crisis”, the New York Times noted that Turkish economic output per person has slipped back to 2010 levels, according to World Bank data.
  25​ TURKEY Country Report​ September 2020 ​ ​www.intellinews.com
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