Even in the face of the Covid-19 outbreak, the Turkish economy beat expectations and managed to show a faster expansion in comparison with its peers in the first quarter of 2020.
Türkiye’s GDP grew 4.5 percent from January to March in 2020 compared to the same period of the previous year. The data suggested a strong recovery and slight downside effects from Covid-19.
Minister of Treasury and Finance Berat Albayrak said in a statement, "We will proceed more cautiously in the second quarter, where we will feel the effects of the pandemic and hopefully witness a strong recovery period in the following periods."