Afghans offered prayers marking the Muslim festival of Eid al-Adha on July 31 as a three-day ceasefire between Taliban and government forces began, with many hoping the truce will lead to peace talks and the end of nearly two decades of conflict.The government has announced that the Value Added Tax (VAT) will be lowered until the end of the year for some sectors, while the rental withholding will be cut in half for all businesses to the economy weather the coronavirus pandemic, Treasury and Finance Minister Berat Albayrak has said.Istanbul club Fatih Karagümrük was promoted to Turkish Süper Lig next season after defeating Adana Demirspor on July 30 in Ankara. The economy contracted 3 percent in the fourth quarter of 2018. "The negative 3 percent growth rate in the last quarter of 2018 occurred as was expected," Berat Albayrak tweeted on March 11. Investors expect the central bank to raise interest rates, but the size of the hike will be crucial, Matys added. The lira Second quarter gross domestic product (GDP) expanded a seasonally and calendar adjusted 0.9 percent from the previous quarter, data from the Turkish Statistical Institute showed. Economic Outlook .
In a Reuters poll, the economy had been expected to grow 5.3 percent in the second quarter. More news "The GDP per capita in 2018 was 45,463 Turkish liras- $9,632 at current prices," TurkStat said, compared with 38,660 liras ($10,597) in 2017. The year-on-year change in GDP was 4.4%, 15 -tenths of one percent less than the 5.9% recorded in the forth quarter of 2019. Gross Domestic Product of Turkey grew 0.6% in the first quarter of 2020 compared to the previous quarter. TurkStat noted that gross domestic product (GDP) at current prices totaled 3.7 trillion Turkish liras (some $784 billion) last year. Turkey’s GDP is expected to rise by 5.3 percent for 2018 and 5.1 percent for 2019, from 4.9 percent and 4.7 percent respectively. GDP growth slowed to 4.5% year-on-year (yoy) in the first quarter, coming in below market expectations of 5.4% growth and the 6.0% expansion tallied in the fourth quarter. His demands for lower interest rates have fueled concerns that the central bank lacks independence. Despite a series of adverse shocks including severe geo-political tensions at the southeastern border and an averted coup attempt in 2016, GDP growth averaged nearly 7% over 2010-17. Turkey: Activity loses notable momentum in Q1; worse to come in Q2. Turkish GDP per capita has continued to catch up with the more advanced OECD economies. The bank left rates on hold at its last meeting in July, defying expectations of a hike.
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