COVID-19 insights Turkey: Impact on the Turkish economy in a global context

The number of coronavirus infections is increasing worldwide, and withit uncertainty - not in the least because the situation changes almost every half day. The Federal Office of Public Health and the cantons are issuing directives, the global economy is at the same level as the financial crisis of 2008, global supply bottlenecks and shortfalls are occurring and precautionary travel and work regulations are coming into force in a number of countries and companies.

Turkey was one of the countries that had no case of the COVID-19 until March 11 when the Turkish government reported of its first case. Since than the numbers of the infected people has increased dramatically and the country has surpassed many other countries in no time. The crisis hit the Turkish economy with full force. Regarding to a Turkish pro-government daily news, they claimed to say that 2020 would be the year of recovery for its economy. They forecasted the dropping of the inflation to single digits (~9.5%), economic growth between 3%-4%, controlled depreciation of the weak Turkish lira, better performance of the Turkish stock market compared to other asset markets and many more positive aspects,which will strengthen the Turkish economic condition. However, none of the before mentioned points might succeed due to the unexpected crises (COVID-19) and its duration, which the globe is facing, nowadays. 

At the webinar «IMPACT ON THE TURKISH ECONOMY IN A GLOBAL CONTEXT» on April 28 at 3.00 pm (Swiss time, CET/MEZ), in cooperation with Swiss-Turkish chamber of commerce (SCCT) you will learn first-hand from the Swiss Business Hub in Turkey as well as from our partners and experts about the global economic developments of COVID-19 and it’s effects on Turkey. 

Make sure to register today to stay informed!

We are looking forward to your participation.