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    Gül Yücel
    Gül Yücel
    Senior Economist
    Istanbul

    Gül Yücel works as an Economist at Garanti  – BBVA Research since June 2022. She holds a BA and MA degree in Economics from Bilkent University, Ankara.

    Previously, she worked as an Economist at the Industrial Development Bank of Turkey where she was mainly responsible for doing research on topics in development economics, particularly gender equality and climate crisis.

    Latest publications

    March 13, 2023

    Türkiye | Fast recovery signals after the quakes
    Industrial production (IP) production grew 7.0% y/y in January (vs. 4.6% expected and 3.9% market consensus). Our big data indicators started to signal a quick recovery to their pre-quake levels. Hence, we maintain our 2023 GDP forecast of 3%, assuming a manageable normalization from the current policies.

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    March 3, 2023

    Türkiye | Lower than expected February CPI
    Consumer prices rose by 3.15% in January, lower than both our expectations (4.2%) and market consensus (3.5%) and annual inflation continued to come down to 55.2% (57.7% in Jan.). Following our revisions after the quakes, we revised our year-end inflation forecasts to 45% and 24% for 2023 and 2024, respectively.

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    February 28, 2023

    Türkiye | The economy grew 5.6% in 2022
    Turkish economy grew by 3.5% y/y in 4Q22 (vs. 3% exp. and 2.9% consensus), leading to an overall GDP growth of 5.6% in 2022. We maintain our GDP growth forecast at 3% in 2023 assuming expansionary fiscal policy and better global growth outlook will compensate the negative impact of the quakes.

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