Turkey’s Finance Minister Elvan: Q1 indicators point to 6% growth, USD/TRY eases off new record highs
|Turkish Finance Minister Lutfi Elvan said on Friday that he expects the economy to grow by 6% in the first quarter, as suggested by the economic indicators.
Additional comments
“Expected this trend to continue with the support of external demand.”
“Government's priorities are price stability, controlling current account deficit, boosting labor market.”
Separately, the central bank Governor Sahap Kavcioglu said that credit growth rates are expected to continue to decline in the period ahead.
USD/TRY reaction
On the above comments, USD/TRY fell from near fresh record highs of 8.5911, as the lira bulls were rescued by Elvan’s optimistic view on the economy.
At the time of writing, the major trades at 8.5609, still up 0.77% on the day.
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