Union of Chambers and Commodity Exchanges of Turkey

“2019 third quarter growth was 9‰, in line with expectations.

The first concrete sign that the economic growth process has begun has come. The downsizing that has been going on for three quarters is over.

We're leaving the turbulent process behind us. We will see more clearly the positive effects of the interest rate reduction policy which is very important and valuable for our real sector in the future.

Domestic consumption is starting to revive and continued increase in exports is positive.

The increase in inventory figures with consumption reflects the expectation of our companies for a more vibrant domestic market for the coming period.

This growth boosts morale and hope for the future. However, some aspects of the details should not be ignored.

In particular, the real sector expects additional measures to be taken in the face of the decrease in investment expenditures.

We estimate that annual growth will reach 1% in the last quarter, with growth reaching around 5%.

We believe that in 2020 we will see a stronger growth process in the economy.”