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Dec 11 2018

Turkey to miss 2018, 2019 economic growth goals – columnist

Turkey is expected to miss economic growth goals for this year and 2019 just two months after setting them, according to Erdal Sağlam, a columnist for daily newspaper Hürriyet.

A quarterly economic contraction of 1.1 percent in the three months to September, reported on Monday, is a harbinger of things to come, with a further contraction in both quarterly and annual GDP looming in the final three months of the year, Sağlam said.

Recession will probably become the word crossing everyone’s lips in the months ahead, Sağlam said. Even the most optimistic economists are predicting an economic contraction of 2 percent for the final quarter, he said.

All this means that the government’s target for economic growth of 3.2 percent in 2018 will be missed, Sağlam said. Some analysts are estimating that the government will meet its goal of 2.3 percent growth for 2019, while others are predicting a lower number or even an economic contraction, he said.