(MENAFN) Turkey's economy climbed a higher-than-forecasted 4 percent y-o-y throughout the three months to September period, based on recent reports.
The progress was mainly driven by private sector demand and forecast that next year would be much better as reforms are enacted and growth chance increases.
Moreover, the lira, which has lost around 20 percent of its value against the dollar this year, firmed to 2.9127 from 2.1975 before the data. The main share index rose 0.53 percent.
There was also a slightly positive surprise on the current account deficit, basically a weak spot of the economy, which stood at USD133 million in Oct, well below an estimated USD200 million.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.