Turkey has registered an impressive economic development since 2001. However, the country’s economy is showing signs of a slowdown. Turkish lira has fallen by 40% against the dollar in 2018. Inflation surges nearly 25% in September 2018.

Turkey GDP

Source: World Bank

Turkey’s GDP growth seen lower at 5.2% in Q2 2018 from 7.3% in the previous quarter. Turkish government expects the economy to grow 3.8% in 2018 and 2.3% in 2019.

Turkey Real GDP growth

Source: IMF World Economic Outlook

Turkey is the 17th largest economy in the world. The country became the fastest growing economy among G20 countries in 2017. However, IMF predicts that Turkish economy will grow around 1% in 2019.

G-20 GDP Growth 2017

Source: World Bank

According to the government's “New Economic Program”, Turkish private sector consumption expenditures are expected to increase by 2.1% in 2019 compared to 2018 and public consumption expenditures by 1.1%. In addition, private sector fixed-capital investments are forecasted to surge by 2% and public sector fixed capital investments will decrease by 36.1% due to the expenditure measures taken.