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Turkey to Face Big Challenges Due to Recession

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Turkey’s economy has been declared in recession — defined as two consecutive quarters of contraction — for the first time since the global financial crisis of 2008.

Turkey’s GDP was said to register a contraction of 2.4% in the first quarter of 2019, following a 3% decrease in the final quarter of 2018.

Worryingly for Ankara, industrial output fell 6.4% and there are signs of more falls in the months ahead. (Shutterstock)

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