Turkey begins 2021 with positive trends for economic growth and currency stability.
  • bitcoin
  • ethereum
  • litecoin
  • Accepted Here

Turkey begins 2021 with positive trends for economic growth and currency stability.

Created : 19 Feb 2021
Property in Turkey

Now may be the best time to invest in Turkey as the Turkish economy is beating expectations. The outlook for 2021 looks promising as the Turkish lira has continued tostrengthen against the US Dollar (USD)in February hitting its peak value in the last six months. The Lira to USD rate was at its lowest at 8.5832 last November but is anticipated to continue its recovery against the USD. As of February 17 it was trading at 6.97 and is expected to keep improving against the USD.  Buying a Property in Turkey will be a better value for in the first half of the year if these trends continue as predicted. Morgan Stanley said not only is Turkey outperforming other emerging market (EM) currencies but also assets. “Turkey over-performed most of its peers during the pandemic,” JP Morgan bank analysts said in a client note. Turkey has a long history of managing crisis in previous years and the report noted that as a result Turkey exceeded its peers’ growth amid the corona virus outbreak. More than $15 billion has streamed into Turkish assets since November 2020, when President Recep Tayyip Erdo?an promised a new pro-market era and appointed new leadership at the Turkish Central Bank and the Treasury and Finance Ministry. JP Morgan’s growth forecast for 2021 is also up from 3.3% to 4.6% noting that this year, the economy could see higher growth, given the more promising expectations for the tourism sector's performance, in addition to the well-run vaccination campaign. Despite containment measures against COVID-19 Turkish domestic demand outpaced predicted outcomes and the robust private sector “surprised to the upside.” It pointed out that one of the main reasons for this outperformance was the massive government-led credit growth in the first half of last year, supporting the economy to recover from the pandemic.

Did You Find This Useful ?
Please Share Your Comments With Us
Contact Us For Free