4/10/2020

Indicators Prove That Turkey Will Be One of the Least Damaged Countries From the Pandemic

​​​​Annual inflation in Turkey in March fell to 11.9 percent from 12.4 percent in February, showing that price pressures remain contained and that FX pass-through has been quite mild. 

The plunge in global oil prices and the immediate reflection of this to local gasoline prices also contributed.

Lowering oil prices will also help Turkey prevent deterioration in the current account. Possible weakness stemming from tourism revenues will be offset by a smaller energy bill in 2020.

Dynamic domestic demand, steps taken by the government, the fall in bank lending rates, and other cyclical factors are all likely to diminish the possible future impacts of this pandemic on the Turkish economy.​​
Turkey; inflation; pandemic; Covid19