Turkey's economy predicted to grow 21.8% in Q2

Country's annual GDP likely to grow 8.1% in 2021, economists say.

Turkey's economy predicted to grow 21.8% in Q2

Turkey's economy is forecast to grow 21.8% year-on-year in the second quarter of 2021, an Anadolu Agency survey revealed on Tuesday.

The Turkish Statistical Institute (TurkStat) will release gross domestic product (GDP) figures for the April-June period on Wednesday.

A group of 16 economists expected an average of 21.8% growth year-on-year in the second quarter, hovering between 19% and 24%.

The economists also predicted that Turkey's annual GDP in 2021 would grow by 8.1% on average – the highest at 6.7% and the lowest at 9.5%.

The country's GDP grew by 7% in the first quarter of this year.

Amid the coronavirus pandemic, Turkey was one of the rare countries where negative growth did not occur and its economy grew by 1.8% in 2020.