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Turkey GDP (Q3 2023)

The sharp slowdown in Turkish GDP growth to 0.3% q/q in Q3, together with more timely figures for Q4, suggest that the economy is rebalancing in response to the policy tightening this year. With the central bank set to keep interest rates at a restrictive level over the coming quarters, growth looks set to slow further in 2024 and this will help to narrow the current account deficit and cool inflation pressures.

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