Minister Albayrak: Our GDP ratio yielded good results compared to other countries in the world.

Finance and Treasury Minister Berat Albayrak stated that, contrary to pessimistic views, the gross domestic product (GDP) ratio yielded good results compared to other countries in the world, saying “The foundations of the Turkish economy are strong, and its dynamics are powerful.” Albayrak evaluated the growth figures for the second quarter of the year on his Twitter account.

The disaster of the century, the new type of coronavirus (Covid-19) outbreak, which brought the world economies to a standstill, will be felt in the second quarter of the year, as emphasized by Albayrak. Contrary to pessimistic scenarios, our GDP rate has yielded a good result compared to other countries in the world. Turkey’s economy has strong foundations and powerful dynamics.

Albayrak emphasized that Turkey will close the year positively by highlighting national economic goals, production based on employment, and an economy model that stands by its citizens, stating, “We are determined to enter 2021 by erasing the traces of the pandemic. Hopefully, we will also see a ‘V’ shaped recovery in the GDP data.”

In Albayrak’s post, the second quarter GDP rates of countries were also included. According to this, the United States ranks first with a 31.7% contraction, while the United Kingdom’s second quarter contraction rate was 22.8%.

In the list where the European Union average showed a 14.1% contraction, the G7 countries’ average was 11.9%, and the OECD average was a 10.9% contraction.

Turkey, which ranked last in the list with a 9.9% contraction in the April-June period, was followed by Japan with a 10% contraction.

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