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Turkey Starts Mass Vaccinations; Economist Warns GDP Forecasts 'Overly Optimistic'



  • Turkey to start mass vaccinations today, despite questionable Sinovac results in brazil (60% effective).
    • Turkey has purchased 50m doses, with 3m having arrived.
    • 1.1m healthcare workers to be vaccinated first & vaccines will be distributed to 81 provinces - Hurriyet Daily
  • Local economist warns World Bank & Reuters predictions for 4.5% & 4% growth in 2021 are overly optimistic. Says financing is simply not present or forthcoming, noting a sharp slowdown in credit growth.
    • Also highlights the inability for Turkish banks to grant long-term loans to manufacturers to expand capacity or build factories due to a mismatch in banking deposits which have an average maturity of 3-months.
    • Nov BOP data also shows banks are not expecting an investment boom, making net foreign loan repayments of $629m vs other industries $191m - Ahval
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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