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Turkey's economy continues to boom

4 years ago15 views

Turkish GDP has risen more than forecast. Gross domestic product grew in the third quarter by 4.4 percent from the same period last year.

Strong domestic demand offset a weaker export performance. Exports held back growth in the third quarter, falling 2.2 percent from a year earlier, despite a depreciation in the lira.

Economists said that shows GDP growth is evolving towards private consumption and investments and away from public spending and exports.

However, economists and policymakers continue to voice concerns about Turkey’s major fuel imports.

They are responsible for a huge trade gap and expose the country to volatile oil prices and global money flows.