Turkey’s youth unemployment reaches frightening level (Al-Monitor, December 27,2018)
ARTICLE SUMMARY Youth unemployment in Turkey has hit 21.6%, according to official figures, but beyond…
Turkey’s statistics agency announced Monday that the Turkish economy grew 1.8% in 2020 despite the COVID-19 pandemic, beating all forecasts and estimates, including Ankara’s own. The positive growth rate, however, came at the expense of major fragilities that continue to haunt the economy, as evidenced by the fact that the country’s gross domestic product (GDP) has actually decreased in terms of dollars.
In a revised economic program announced in September, President Recep Tayyip Erdogan’s government had projected the economy would grow 0.3% in 2020, while others, including international bodies such as the Organization for Economic Cooperation and Development and the International Monetary Fund, had anticipated a contraction of up to 5%.