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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

    September 4, 2023

    Türkiye | Strengthening upward pressure on inflation
    Consumer prices rose by 9.09% m/m in August, higher than both our expectation (7.0%) and market consensus (7.2%), resulting in an annual inflation of 58.9% up from 47.8% in July. Considering higher-than-expected August realization, consumer inflation will likely get closer to 70% at the end of this year.

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    September 1, 2023

    Türkiye | Weaker production with still strong demand
    Turkish economy grew by 3.8% in 2Q23 in annual terms slightly above the market consensus of 3.5% (vs. our expectation of 4.5%), which corresponds to 5% GDP growth if the calendar day adjustment is made. We expect GDP growth to materialize in the range of 4% to 4.5% with a high probability.

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    August 11, 2023

    Türkiye | Strong acceleration in 2Q
    Industrial production (IP) increased by 1.6% m/m in seasonal and calendar adjusted series, resulting in the 2.3% q/q acceleration of activity in 2Q (vs. 0.5% q/q in 1Q). We expect GDP growth to be 4.5% in 2023 thanks to the strong growth pattern in 1H23, especially considering the soft landing scenario.

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