Turkey | GDP grew 7.4% in 2017

Summary

GDP grew by 7.3% (YoY) in 4Q17 above both the market consensus and our expectation (6.7%). The upward revision of the first three quarters and stronger than expected Q4 resulted in 7.4% yoy growth in 2017 (3.2% in 2016).We maintain our expectation that GDP growth may normalize to 4.5% in 2018 due to tightening financial conditions with some upside risks.

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