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Turkey Become 2nd Fastest-Growing Country
among the G-20 Countries

In the second quarter of 2021, Turkey become the 2nd fastest growing country among the G-20 countries in terms of economy.

 

In the report prepared by the World Bank, it was stated that the Turkish economy had the 2nd highest growth rate among the G-20 countries with a growth rate of 21.7 percent in the 2nd quarter of 2021.

 

 According to the report, with the progress made in the vaccination campaign, the strong demand in the domestic and foreign markets was effective in the growth.

 

The World Bank's report titled "Economy Update in Europe and Central Asia", which evaluates the recovery process after the Covid-19 pandemic, has been published.

 

In the report, it was stated that the Turkish economy had the 2nd fastest growth rate among the G-20 countries with a growth rate of 21.7 percent in the 2nd quarter of 2021.

 

The factors that played a role in the growth were explained as the success in the vaccination campaign, the effective control of Covid-19, the relaxation of epidemic measures and the strong demand in domestic and foreign markets.

 

Private investments stand out as the main contributors to growth despite increased demand for durable goods and services, higher borrowing costs and reduced financial aid.

 

Turkey Ranked 2nd in Growth Rate in the World

 

Turkey became the 2nd country with the fastest growing economy in the world with a 21.7 percent growth rate.

 

While England ranked 1st with 22.2 percent, Turkey was followed by India with 20.1 percent and Spain with 19.8 percent.

 

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