Turkish Economy Contracts, Posing Challenge for Erdogan
ISTANBUL—The Turkish economy, strike tough by the coronavirus pandemic, contracted sharply in the second quarter, jeopardizing President Recep Tayyip Erdogan’s central political pledge of swiftly reviving the nation’s financial prosperity.
Turkey’s output shrank 9.9% in the second quarter compared with the identical period of time a 12 months earlier, and 11% compared with the very first quarter of 2020, the nationwide statistical agency reported on Monday. Turkey experienced from the in close proximity to paralysis of global air travel, which still left its resorts starved for vacationers,…
