Mar 29 2018

Turkish economy grows annual 7.3% in fourth quarter

Turkey’s economy expanded an annual 7.3 percent in the fourth quarter in a sign that stimulus by the government is continuing to have a positive impact on growth.

The expansion brought annual growth in 2017 to 7.4 percent, the statistics office in Ankara said on Thursday. Quarter-on-quarter growth was 1.8 percent, it said.

Turkish President Recep Tayyip Erdogan’s government has introduced tax cuts and loan guarantees for companies in order to stimulate the economy ahead of elections due next year. The stimulus has raised concern that the economy is overheating as the current account deficit widens and inflation remains in double figures.