Turkey enters technical recession as economy contracts 0.2% in Q3, growth slows to 2.1%.

Turkey's economy grew by 2.1% in the third quarter of 2024, marking a slowdown and entering a technical recession with a 0.2% quarter-on-quarter contraction. High interest rates raised by the Central Bank to combat inflation have impacted demand, especially in the services sector. The government anticipates reduced inflation and improved economic activity by the end of 2025.

4 months ago
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