Turkey to post strong economic growth in 3rd quarter of 2020: Minister Varank
Turkey entered a recovery process after passing a difficult month of April, when the first COVID-19 case appeared in Turkey, Mustafa Varank -- industry and technology minister -- said in his comments during the opening ceremony of a factory in the northwestern Tekirdağ province. Varank added that Turkey would post a strong economic growth in the third quarter of this year.
- Economy
- Anadolu Agency
- Published Date: 02:47 | 06 November 2020
- Modified Date: 02:48 | 06 November 2020
Turkey will post a strong economic growth in the third quarter of this year, the country's industry and technology minister said on Friday, hoping the trend will continue in November and December.
Turkey entered a recovery process after passing a difficult month of April, when the first COVID-19 case appeared in Turkey, Mustafa Varank said during the opening ceremony of a factory in the northwestern Tekirdağ province.
New orders, capacity usage, investments and exports in the manufacturing industry are increasing, Varank noted.
Speaking about COVID-19-related restrictions in the EU, he said: "I hope the closures [in the EU] will not affect us negatively. Of course, this is not in our control.
"Our main priority is to look for ways to preserve the strength of our industry at all times."
The Turkish economy expanded by 0.9% in 2019, 4.4% in the first quarter of this year and minus 9.9% in the second quarter, on a yearly basis.