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Turkey's Economy Slides Into Recession

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Pete
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Turkey's Economy Slides Into Recession

Post: # 26533Post Pete
Mon Mar 11, 2019 3:52 pm

Turkey's economy slides into recession

Turkey went into recession at the end of last year, according to the country's official statistics office.

The Turkish Statistical Institute said the economy shrank by 2.4% in the fourth quarter of 2018, from the previous quarter.

It followed a 1.6% drop the previous quarter, making two quarters of falling growth - the definition of recession.

A trade war with the US sparked a steep fall in Turkey's currency, making imports far more expensive.

The two countries are opposed on a range of issues including how to fight the Islamic State group in Turkey's neighbour Syria, Turkey's plans to buy Russian missile defence systems and how to punish the alleged plotters of a failed coup in Turkey in 2016 which attempted to topple President Recep Tayyip Erdogan.

Turkey also wants the extradition of a Turkish cleric now living in the US who it has charged with terrorism and espionage.
Read More BBC News


Thigibh a nis le buidheachas
n a gheataibh-san a steach,
Is thigibh fòs le maladh mòr
an cùirtibh naomh a theach :
Is thugaibh dha mòr-bhuidheachas,
ainm beannaichibh gu binn.

Psalm 100: 4


"Beware of the false prophets! They come to you wearing sheep's clothing, but underneath they are hungry wolves! You will recognize them by their fruit. Can people pick grapes from thorn bushes, or figs from thistles?
Matthew 7: 15-16 Complete Jewish Bible

Dear friends, don't trust every spirit. On the contrary, test the spirits to see whether they are from God; because many false prophets have gone out into the world.
]1 John 4:1 Complete Jewish Bible


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