The Turkish economy grew by 3.8 percent

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The Turkish economy achieved growth of 3.8 percent year-on-year in the second quarter of 2023.

This came according to what the Turkish Statistics Authority announced on Thursday about the gross domestic product (GDP) data for the country’s economy during the period between April and May 2023.

The Authority stated in a statement that the Turkish economy continued its growth for the 12th consecutive quarter.

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It reported that GDP estimates rose in the second quarter by 60.7 percent compared to the same quarter last year, reaching 5.5 trillion Turkish liras ($271.5 billion).

Evaluating the figures announced by the Turkish Statistics Authority, Minister of Treasury and Finance Mehmet Simsek said that his country’s economy continued its strong growth in the second quarter despite ongoing efforts to avoid the economic effects of the devastating earthquake that struck southern Turkey last February.

He added in a statement: “We have begun to see the positive effects of the policies we have implemented, and we will continue to take the necessary steps to ensure stability and the continuation of these effects.”