The economy is expected to grow by 7-8% in the last quarter of 2020 and 2.5% in 2020 overall, Naci Agbal, the Central Bank Governor, said on Tuesday in a meeting with economists. Moreover, based on economic activity so far this year, economic growth is on pace for 4-5% in the first quarter. The Central Bank plans to increase its reserves through foreign exchange buying auctions after capital inflows are stabilized and the dollarization trend of residents is reversed. The Central Bank will also continue to pursue its tight monetary policy until 2023, or until it reaches the target inflation rate of 5%.
MEHMET KAYA
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