Fitch: Turkish Economy to Start Recovering in Q4 2020 from COVID-19 Impact 

Fitch Ratings’ Sovereign Team Director, Douglas Winslow, has stated that Turkey's economy will catch up with its sustainable trend of growth next year while its Gross Domestic Product is expected to increase by 4.5% in 2021, following a battle in 2020 against COVID-19. 

Winslow added that Turkey recorded economic growth of 6% during the first quarter of 2020 (prior to COVID-19) with a sharp decline now being anticipated in the second quarter, due to the pandemic. Fitch predicts a flatter economic growth in the third quarter of 2020 and a recovery in the final quarter, as economic activities are anticipated to normalize following a partial lockdown. However, Winslow warned that significantly weaker growth could be e...