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    Gül Yücel
    Gül Yücel
    BBVA Research - Senior Economist

    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

    April 3, 2024

    Türkiye | Inflation trend fell only limitedly

    Consumer prices rose by 3.16% (68.5% y/y) in March, lower than both our expectation and consensus (3.5% and 3.6%, respectively). We expect annual consumer inflation to reach 45% by 2024 end under the assumption of 3.5% GDP growth in 2024, gradual currency depreciation and continuing demand restrictive policies.

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    March 15, 2024

    Türkiye | Still solid domestic demand in 1Q24
    After the strong growth performance in 2023 with 4.5% y/y, we nowcast an acceleration in GDP growth rates in 1Q24 with 5.5% annually as of March. We maintain our 2024 GDP growth forecast of 3.5% given the solid performance in 1Q, the pre-election fiscal impulse and expected capital inflows.

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    March 4, 2024

    Türkiye | Worsening inflation trend keeps challenges
    Consumer prices rose by 4.53% in Feb, higher than our exp. and cons. (4.0% both), and annual inflation accelerated to 67.07% (64.86% prev.). Given the strong realizations in Jan. and Feb, we expect tighter financial conditions to be pursued in post-election period and maintain our 2024 year-end inflation expectation of 45%.

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