BETAM Predicts a 0.7% Yearly Contraction in the Economy for Q4 2024

Foreks - BETAM expects the Turkish economy to contract by 0.7% in the fourth quarter of 2024 compared to the same quarter of the previous year. According to BETAM's report titled "Economic Growth and Forecasts: December 2024," calculations based on seasonally and calendar-adjusted data predict that GDP will increase by 1.3% in the fourth quarter of 2024 compared to the previous quarter.

The report provides the following information: "In the fourth quarter of 2024, we anticipate a 12.4% increase in the import of consumer goods and a 4.6% increase in excise tax revenues compared to the previous quarter. We foresee a decrease of 1.5% in housing loans and a 3.3% decline in public consumption expenditures.

Compared to the same quarter of the previous year, public consumption expenditures are expected to rise by 16.9%, while significant decreases in housing loans (25.8%) are expected. During the same period, we also anticipate a 2.7% decrease in consumer loans."