November 27, 2019 / 5:01 PM / 18 days ago

Finance minister says Turkey will record 4-5% growth in Q4 - Anadolu

ISTANBUL, Nov 27 (Reuters) - Finance Minister Berat Albayrak said on Wednesday that Turkey’s economy will grow 4-5% in the last quarter of 2019, the state-owned Anadolu news agency reported.

Growth expectation for the third quarter was around 1%.

“If December continues at this pace as well, Turkey is going towards a last quarter where it will grow around 4-5%,” Anadolu quoted him as saying.

Turkey’s economy contracted year-on-year in the last quarter of 2018 and the first two quarters of this in the wake of a currency crisis that saw the lira lose nearly 30% of its value against the dollar last year.

The Turkish Statistics Institute is expected to announce the third quarter growth figures next Monday. (Reporting by Ali Kucukgocmen and Ezgi Erkoyun; Editing by Angus MacSwan)

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