"Turkey over-performed most of its peers during the pandemic," bank analysts said in a client note on Friday.
Tighter financial conditions and ongoing lockdowns will remain a drag, but the carryover from 2020 will be much larger than projected earlier and the contribution from net exports could be larger.
ISTANBUL: Wall Street bank J.P. Morgan raised its expectations for Turkish economic growth to 4.6% this year, from 3.3% previously, and also hiked its 2020 view to 1.9% from 1.1% based on strong private-sector performance through the coronavirus pandemic.
"Turkey over-performed most of its peers during the pandemic," bank analysts said in a client note on Friday.
"Tighter financial conditions and ongoing lockdowns will remain a drag, but the carryover from 2020 will be much larger than projected earlier and the contribution from net exports could be larger," it said.
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