ANKARA: The Turkish economy grew by a stronger-than-expected 4.4 percent in the third quarter of 2013, according to official statistics published Tuesday.
The figure, which compares with the same quarter of 2012, was higher than the market consensus of around 4.0 percent.
Growth for the first nine months of the year was 4.0 percent which the government said was "in line with its growth predictions for 2013".
The government is forecasting growth of just 3.6 percent for this year and 4.0 percent for 2014, down from a peak of 8.9 percent in 2010.
Turkey along with other emerging economies has been buffeted by market turmoil in anticipation of a withdrawal of US monetary stimulus, which saw the local currency take a tumble in the summer.
Analysts say Turkey also remains vulnerable because of its high current account deficit with a weakening in export growth.
Gokce Celik, an economist at Finansbank in Istanbul, suggested that costlier external finance would "pose the main downside risk on next year's growth outlook", predicting 3.7 percent growth for next year.
Comments
Comments are closed.