6/30/2020

Turkey Sees Rise in Economic Confidence Index

​​​As Turkey adapts to the “new normal” with the easing of COVID-19 measures, the economic confidence index of the country has rebounded accordingly. Turkish Statistical Institute (TurkStat) data shows that Turkey’s economic confidence index hit 73.5 points in June, up 19.1 percent on a monthly basis. 

Minister of Treasury and Finance Berat Albayrak released a comment, saying, “Confidence in the Turkish economy is on the rise. I hope we will continue 2020 with this performance and take it even further next year.” 

While in April the economic index dropped to 51.3 points, in May it rose to 61.7 points and then to 73.5 points in June. The main reason behind the jump in confidence in the Turkish economy is the developments made in the consumer, real, services, retail trade, and construction sectors after the government agreed to ease the restrictions. 

According to TurkStat, the consumer confidence index increased by 5.2 percent to 62.6 and the real sector confidence index increased by 22.2 percent, reaching 89.8 in June. 
new normal; confidence index; Turkish economy; Berat Albayrak