Turkish GDP grows double digits, fastest-growing in G20

Turkish GDP grows double digits, fastest-growing in G20
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ANKARA: Turkey became the fastest-growing economy among G20 countries after clocking in with 11.1 percent growth in the third quarter of 2017, the Turkish Statistical Institute (TurkStat) reported on Monday.

Monday’s report makes the country's growth the fastest among the world’s 20 largest economies and marks the third consecutive quarter where annual expansion topped 5 percent.

The figure easily exceeded analyst consensus estimates of 9.2 percent. Turkey’s economy grew 5.2 percent in the first quarter of this year and 5.1 percent in the second quarter, according to TurkStat.

Turkish officials previously said the country would achieve annual economic growth of 6 to 7 percent by the end of the year.

 

 

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