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The Turkish Finance Minister expects the economy to grow by more than 8% this year

Yesterday on Friday, Turkish Finance Minister Lütfi Elvan announced that he expects the Turkish economy to grow by more than 8% during 2021, of course, in the event that no external crises occur due to the Corona virus.
He added that he expects the second quarter of this year to record a growth of more than 20%, due to the strong recovery that is taking place in the movements of production, services, and exports.
He explained in his speech that there is a gradual recovery in the services sector, especially in tourism, and this recovery continues with the increase in vaccination rates in the country. But the emergence of the new strain of the virus puts many question marks on the possibility of continuing and increasing this recovery.
He stated that the ministry is doing its utmost to stand by the contributors to production, employment, and exports, and pointed out that 2020 was a difficult year full of struggle that tested all the world's social and economic systems, as the world witnessed this year an economic downturn unprecedented since World War II.
He added that the Corona epidemic brought with it three basic problems for the global economy, the first was the increase in inflation rates globally due to the imbalance between supply and demand, the second was the disruption of the supply chain, and the third problem was represented by the high rates of debt in several countries.

 

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