Conexio consulting

Turkish economy grows 4.8 percent in first quarter

Turkey’s economy grew a larger-than-expected 4.8 percent in the first quarter of 2016, official data showed on June 10, outperforming major emerging markets peers, as wage hikes and spending by Syrian migrants fueled private consumption, according to analysts.

Deputy Prime Minister Mehmet Şimşek said the figures showed the economy was on a strong path and that the government would push ahead with structural reforms in the coming period.

Şimşek said the Turkish economy was one of the fastest-growing economies in Europeand the Organization for Economic Co-operation and Development (OECD).