Erdogan says Turkish economy will grow more than 7% in 2021

President Tayyip Erdogan said on Wednesday Turkey’s economy would grow more than 7 per cent this year, driven by a 20 per cent leap in the second quarter, and he expected inflation to fall after August.

The government and International Monetary Fund have forecast the economy to grow 5.8 per cent this year as the country steers a rapid economic recovery after the coronavirus outbreak.

“We will reach more than 7 per cent growth this year...We think there will be around 20 per cent growth in the second quarter,” Erdogan said in a broadcast interview.

Erdogan also said Turkish inflation, which hit 18.95 per cent in July, will start falling after August and the interest rates will also be lowered.

“It is not possible for inflation to go further up. We will start to see a fall in interest rates too,” Erdogan said reiterating his longstanding opposition to high interest rates, which he blames for causing inflation.