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GDP Data, Trade Balance Figures in Focus This Week

TURKEY
  • There are no major economic releases on the docket today, with trade balance and GDP data the highlights on the local slate later in the week. GDP is expected to remain steady at +0.3% Q/Q in Q4-2023, and in annual terms to grow by +3.5% Y/Y, down from +5.9% Y/Y.
  • In a speech over the weekend, President Erdogan said Turkey is evolving from a regional force to a global power, Hurriyet report. Erdogan underscored his administration's stance in international affairs, accusing unnamed opponents of "seeking validation from Europe" at the expense of national interests.
  • According to Dunya, the CEO of South Korean company MegaGen announced that: “We decided to make our first investment abroad in Turkey. We will take the first step in our investment plan, which we will make in certain phases, with $15 million.” He added that MegaGen aims to increase the investment to $100 million in five years.

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