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Turkey falls into recession as currency crisis takes toll

Economy contracts sharply in final three months of 2018 Economy contracts sharply in final three months of 2018

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Turkey entered its first recession in a decade at the end of 2018 as a collapse in the lira and a sharp hike in interest rates brought economic growth to a halt. The economy contracted by 3 per cent per cent year-on-year in the fourth quarter of 2018, according to official data released on Monday….

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