Searcher
Alvaro Ortiz
Alvaro Ortiz
Chief Economist
Turkey

Álvaro Ortiz is Chief Economist for China,Turkey and Big Data at BBVA Research. He manages the unit  which inplement  the Big Data analysis on Economic, Social and Geopolitical Issues.  He previously worked as Chief Economist Europe, Asia and Middle East at Cemex, Deputy Director of Economic Analysis at Repsol YPF and Head of Latin America at the Economic Research department of Banco Santander.


Mr Ortiz holds a PhD in Economics (Universidad Autonoma de Madrid) and Advanced Diploma in International Economics and Policy Research by The Kiel Institute for World Economics (Germany).


He has published in several academic journals as Economia, the Journal of Lacea, Opec Energy Review, The Service Studies Journal, Bank of Spain working Papers and Moneda y Credito. He usually collaborates in newspapers as El País, El Espectador, El Economista…


He has participated in several conferences at international Think Tanks as Brueguel, Wilton Park, Salzburg Global Seminar, ME Days, IIF.

Latest publications

Massive protests have taken place in Hong Kong due to the extradition bill. Tensions between U.S. and China increased. Boris Johnson has been appointed as the new PM of UK. Iran related disputes are still alive. TANAP pipeline project that will carry natural gas to Europe via Turkey has been ended.
The Central Bank of Turkey (CBRT) reduced the policy rate by 425 bps from 24% to 19.75%. The movement was bolder than expected by market expectation and ours (Consensus 250 bps, BBVA 200 bps). Some risks remains on both economic and geopolitical sides which should be met with a gradual and cautious policy.
IP declined by 1.3% yoy in calendar adjusted terms in May, slightly better than market expectation (-2%). Hence, the annual contraction in IP (c.a.) decelerated further from -4.7% in 1Q19 to -2.6% in the first two months of 2Q19. In absence of new shocks, we maintain our GDP growth forecast at 0.3% for 2019.