Eco Week
Economic Pulse

A still resilient pulse indicator

04/23/2020
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Our Pulse for Turkey shows good resilience of the economy until February/March. So far, the government has not imposed a generalized lockdown therefore the supply shock is less severe than for other European economies. Besides, the Central Bank has lowered its policy rate by 200 basis points since mid-March and one third of the support program announced by the government (2.3% of GDP) has already been spent at mid-March. We expect recession to be limited to -2% for 2020 as a whole.

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