[:en]It is stated that The $740 billion economy (Turkey) has likely outperformed all the Group of the 20 nations except for China, thanks in part to a combination of decisions like interest-rate cuts, fiscal spending and a government-led credit push.
In the article, Ziad Daoud, chief emerging markets economist said that Turkey’s output probably regained its pre-Covid level in 3Q, one of the fastest rebounds in emerging markets.
At the same time, the central bank injected liquidity by scooping up government bonds, and delivered 1,575 basis points of easing until rate cuts stopped in June, leaving Turkey’s inflation-adjusted borrowing costs among the lowest in the world.