Türkiye’s economy grows 2.5% in Q2 2024, falls short of expectations
A money changer holds Turkish lira banknotes at a currency exchange office in Ankara, Türkiye, Oct. 12, 2023. (Reuters File Photo)
Türkiye’s economy grew at an annualized rate of 2.5% in the second quarter of 2024, according to data released by the Turkish Statistical Institute (TurkStat) on Monday.
Türkiye’s GDP for the April-June period reached 9.95 trillion Turkish liras (approximately $308.16 billion). This marks a slowdown from the 5.3% growth reported in the first quarter and falls short of market expectations, with economists having predicted a 3% expansion.
On a quarterly basis, Türkiye’s GDP showed minimal growth of 0.1% in the second quarter, down from a 1.4% increase in the first quarter.
