Turkish economy will grow 5.6% in 2022, exceeding expectations

Official data showed on Tuesday that the Turkish economy grew by 5.6 percent in 2022, exceeding expectations, while growth slowed to 3.5 percent in the fourth quarter, with the continued impact of falling demand.

Data from the Turkish Statistical Institute showed that the gross domestic product for the fourth quarter grew by 0.9 percent from the previous quarter.

A Reuters poll had predicted that the Turkish economy would grow 5.2 percent in 2022, and that growth in the fourth quarter would reach 3 percent. The poll also predicted growth of 2.8 percent in 2023.