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UPDATE 1-Erdogan says Turkish economy will grow more than 7% in 2021

Reuters
·1-min read

(Adds quotes, details)

ISTANBUL, Aug 4 (Reuters) - President Tayyip Erdogan said on Wednesday Turkey's economy would grow more than 7% this year, driven by a 20% leap in the second quarter, and he expected inflation to fall after August.

The government and International Monetary Fund have forecast the economy to grow 5.8% this year as the country steers a rapid economic recovery after the coronavirus outbreak.

"We will reach more than 7% growth this year...We think there will be around 20% growth in the second quarter," Erdogan said in a broadcast interview.

Erdogan also said Turkish inflation, which hit 18.95% in July, will start falling after August and the interest rates will also be lowered.

"It is not possible for inflation to go further up. We will start to see a fall in interest rates too," Erdogan said reiterating his longstanding opposition to high interest rates, which he blames for causing inflation. (Reporting by Ezgi Erkoyun, Editing by Dominic Evans)