Turkey is second in the G20 in economic growth 2020

Turkey achieved economic growth during the past year, despite the challenges of the Corona pandemic, thus ranking it in second place after China, in the list of the most developed countries among the G20 countries that include the largest economies of the world. The Turkish Statistics Authority revealed that the country’s economy grew by 1.8 percent over the past year. The economic contraction of the “OECD” countries reached 3.4 percent during the last quarter of last year, due to the Corona epidemic. During the same period, the European Union economy contracted by 4.8 percent. The US economy also contracted by 2.5 percent during the fourth quarter of 2020. On the other hand, the Turkish economy achieved a growth of 4.5 percent during the first quarter of last year, before the country was affected by the repercussions of the Corona epidemic. As a result of the effects of the epidemic, Turkey’s economy contracted by 10.3 percent during the second quarter of last year, before returning to normal in the second half of the same year, with a growth rate of 6.3 percent in the third quarter, and 5.9 percent during the last quarter.