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05.11.2016

The IMF said that Turkey's GDP growth in 2016 year will be lower than expected

Turkey's GDP will grow by 2016 2,9% in the year, which is below the projected 0,4 percentage points, due to internal and external shocks, the statement said the International Monetary Fund.

According to the October forecast of growth in the global economy the IMF, the growth of the Turkish GDP was expected to 3,3%.

"Following the high levels of last year, the economy slowed down in 2016 year, growth will drop to 2,9%, due to weak business confidence and negative internal and external shocks", - said in the review.

Uncertainty has increased due to the geopolitical tensions and because of a failed coup attempt, the fund said.

On the night of July 16 Turkish rebel group made an attempt of a military coup. The main conflict was in Ankara and Istanbul. Killed more than 240 Turkish citizens over 2 thousand people were injured, the rebellion was suppressed.

The Turkish authorities have accused the opposition Islamic preacher Fethullah Gulen of involvement in the attempted coup and demanded his extradition from the United States. Gülen himself denounced rebellion and declared his innocence.

On charges of having links with the Gulen organization in Turkey about 32 thousand people were arrested after the mutiny, dismissed or suspended from work more than 70 thousand civil servants.

A source: RIA News

Tags: Turkey, Middle East, Economy, IMF