Following China and South Korea, Turkey is set to be the 3rd least-affected country by the novel coronavirus as indicated by the “Economic Outlook, Interim Report" for September 2020 released by the Organization for Economic Co-operation and Development (OECD).
OECD has revised upwardly its contraction forecast for Turkey’s economy in 2020 up to -2.9 percent from -4.8 percent. OECD has further forecasted a 3.9 percent GDP growth rate in 2021 for the Turkish economy.
Minister of Treasury and Finance Berat Albayrak released a statement, in which he said, “Hopefully, this forecast will even be revised better thanks to our strong economy. We owe a profound debt of gratitude to all our health care workers and our laborers who would not give up on production.”
Meanwhile, OECD made an upward revision of its global contraction forecast as well, revising its projection from -6 percent in June to -4.5 percent.