Turkey’s Economy Grows by 3.2% in 2024, Exceeding Expectations

Official data from the Turkish Statistical Institute revealed that Turkey’s economy grew by 3.2% in 2024, surpassing previous forecasts of 3%. The Gross Domestic Product (GDP) increased by 3% year-on-year in the last quarter of the previous year and rose by 1.7% compared to the previous quarter after seasonal adjustments.

The data also showed an upward revision of third-quarter growth to 2.2% from 2.1%. A Reuters survey had projected a 2.6% growth rate for the last quarter of the year, highlighting Turkey’s stronger-than-expected economic performance.

This growth serves as a positive indicator for real estate investors in Turkey, reinforcing the stability of the Turkish economy and enhancing the appeal of real estate investment in a steadily growing market.

Source: Sky News Arabia