Türkiye’s financial system expanded by 5.6% in 2022, official knowledge confirmed Tuesday, clinching a better-than-expected efficiency in a 12 months marked by vital challenges.
The progress is powerful however considerably weaker than in earlier years, pushed primarily by a slowdown in demand.
The financial system is cooling additional this 12 months, primarily attributable to devastating earthquakes that flattened a swathe of Türkiye’s southeastern area in early February, which may hold strain on inflation and stretch the federal government’s funds.
The nation’s gross home product (GDP) reached TL 15 trillion ($905.5 billion) final 12 months, the Turkish Statistical Institute (TurkStat) stated Monday.
The GDP per capita was TL 176,589 ($10,655) in 2022, it added.
In the final quarter of 2022, the GDP grew by 3.5% versus the final quarter of 2021, the information confirmed.
Surveys had projected the expansion in 2022 and the fourth quarter to come back in at round 5.2% and three%, respectively.
Source: www.dailysabah.com
