ANKARA, Dec 2 (NNN-TRT) – Türkiye’s economy grew 3.7 percent year-on-year, in the third quarter, following growth of 4.9 percent in the second quarter and 2.5 percent in the first, according to data released yesterday, by the Turkish Statistical Institute.
Finance Minister, Mehmet Simsek, said, growth is expected to remain moderate in the final quarter and come in slightly above the Medium-Term Programme’s 2025 target of 3.3 percent real GDP growth.
He added that, more favourable financial conditions and a supportive global environment should lead to stronger economic activity in 2026, and that, growth would continue to aid the decline in inflation.
Simsek noted that, agriculture, which carries significant weight in GDP, contracted due to frost and drought, sharply limiting overall growth. Agricultural value added shrank 12.7 percent year-on-year, following a 5.5 percent-drop in the previous quarter. By contrast, non-agricultural growth reached 5.6 percent.
Industrial value added rose 6.5 percent, with high-tech production standing out. Strong growth in the construction sector also continued, supported by reconstruction efforts in earthquake-hit areas, he said.– NNN-TRT