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ISTANBUL (Reuters) – Turkey’s economy grew 5.9% in the fourth quarter tmsnrt.rs/3dVombP and 1.8% in 2020 as a whole, annual data showed on Monday, emerging as one of only a few globally to avoid a contraction due to the coronavirus pandemic.
FILE PHOTO: FILE PHOTO: A man walks towards the entrance of OzdilekPark Shopping Center in the business and financial district of Levent, in Istanbul, Turkey September 8, 2020. REUTERS/Murad Sezer
Propelled by a burst of credit in mid-2020, fourth-quarter GDP grew 1.7% from the previous quarter on a seasonally and calendar-adjusted basis, the Turkish Statistical Institute said.
A surge in gross domestic product (GDP) growth in the second half of the year that surpassed Turkey’s potential rate was driven by a near doubling