Economy, News

Turkish economy shows 5.1 percent growth in second quarter

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The Turkish economy showed 5.1 percent year-on-year growth in the second quarter, the Turkish Statistical Institute (TurkStat) revealed on Monday.

Turkey’s economy grew five percent in the first quarter of 2017 when compared to the same period last year.

Last year, Turkey’s economy grew 2.9 percent, down from 6.1 percent in 2015 and 5.2 percent in 2014.

Government action, including programs to stimulate credit growth, had prompted the figures, as well as strong net exports on the back of increased demand in Europe and Turkish companies’ reorientation to European markets.

Source: Anadolu Agency

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