Turkey’s economic confidence rebounds by 11.8 percent in July

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A customer takes his free bread after showing a dollars exchange receipt to Backer Gokhan Kuk (R) on December 6, 2016 in Istanbul. Convert your hard currency to Turkish lira and you could enjoy a free wedding package, a meal and a loaf of bread. Or even a gravestone. These incentives are being offered by Turkish businessmen to customers who respond to a call from President Recep Tayyip Erdogan to buy lira and prop up the ailing national currency. / AFP PHOTO / OZAN KOSE

Turkey’s economic confidence index rebounded 11.8 percent month-on-month in July to 82.2 points, Turkish Statistical Institute data showed on Thursday, the third month of recovery from lows caused by measures to combat the coronavirus, according to Reuters.

Economic activity had declined sharply in March and April, when the index hit a low of 51.3 points, as Ankara implemented measures to slow the virus spread.

Measures were gradually eased in May and mostly lifted in June.

The index, which points to an optimistic outlook when above 100 and pessimistic when below, last stood above 100 points in March 2018.

Turkish Minute

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