Turkey’s Albayrak: Economic balancing has started

Turkish Finance Minister Albayrak is on the wires now, via Reuters, commenting on the nation’s economic growth following the release of Q2 GDP data.

Turkey’s GDP growth rate slowed down in the second quarter of 2018, though remained strong with 5.2% year-on-year growth, close to the market consensus. 

Key Points:

Economic balancing has started.

There is a move towards export-based growth in the data.

Lead indicators show a slowdown in Q3 domestic demand.

Main targets are combating inflation and cutting the current account gap.