Turkey’s first quarter growth figures for 2024 were announced.
The Turkish economy grew by 5.7 percent in the first quarter, driven by strong domestic consumption.
The Turkish Statistical Institute (TurkStat) announced the first quarter Gross Domestic Product (GDP) figures.
Despite the tightening monetary policy, it is stated that the demand brought forward before the local elections contributed to the economic growth in the first quarter.
Economists had predicted 5.7 percent growth for the Turkish economy in the first quarter. Annual growth was estimated around 3.2 percent.
