Türkiye's Economy Expands 2 Percent in Q1
On a quarterly basis, Türkiye's gross domestic product (GDP) increased by 1 percent in the three months to March, down from 1.7 percent in the previous quarter.
"While our economy continues to grow moderately, disinflation continues," Turkish Treasury and Finance Minister Mehmet Simsek said in a statement.
Leading indicators for the second quarter suggest that economic activity continues to moderate, the minister said, adding that weakening global demand due to strengthening protectionist tendencies in global trade and heightened uncertainties, as well as tightening domestic financial conditions, may restrain the growth outlook.
"However, financial indicators have started to improve thanks to the recovery in global risk perception in recent weeks and the timely and appropriate steps we have taken," he said.
Türkiye is implementing measures against the possible effects that may arise during the disinflation process, and the government continues to support investment, employment, production, and exports, Simsek added.
According to the survey by the semi-official Anadolu Agency, economists estimated that the Turkish economy would grow by 2.17 percent on an annual basis in the first quarter of 2025. The average of economists' growth expectations for the whole of 2025 was 2.91 percent.
In the fourth quarter of 2024, the Turkish economy expanded by 3 percent year-on-year, while in the whole of 2024, the country's GDP grew by 3.2 percent compared to the previous year.
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