President Tayyip Erdogan said on Wednesday Turkey’s economy would grow more than 7% this year, driven by a 20% leap in the second quarter, and he expected inflation to fall after August.
The government and International Monetary Fund have forecast the economy to grow 5.8% this year as the country steers a rapid economic recovery after the coronavirus outbreak.
“We will reach more than 7% growth this year…We think there will be around 20% growth in the second quarter,” Erdogan said in a broadcast interview.
Erdogan also said Turkish inflation, which hit 18.95% in July, will start falling after August and the interest rates will also be lowered.
“It is not possible for inflation to go further up. We will start to see a fall in interest rates too,” Erdogan said reiterating his longstanding opposition to high interest rates, which he blames for causing inflation.