Turkey out of recession, but for how long?

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The Turkish economy recovered in the first quarter and is therefore no longer in recession. In the run-up to the Turkish elections, Turkish banks provided more loans and spending went up, suggesting a temporary revival.

Gross domestic product in the country grew by 1.3 percent on a quarterly basis. The previous three quarters have contracted. On a yearly basis there was a contraction of 2.6 percent, mainly because households were more in control.

Real recovery depends on the lira. The Turkish currency fell in value last year by 5 percent.

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Peretz M.

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