Weekly Export Risk Outlook, June 10

06.11.2015 ZF English

Turkey's governing party AKP suffered a double blow this week as it lost the parliament majority following the Sunday elections and the economic growth slowdown in the first quarter, Euler Hermes noted in this week's Export Risk Outlook report.

Markets reacted negatively to the elections results, with a 4% decline of the lira against the US dollar on Monday alone, Euler Hermes analysts wrote in this week's report.

Real GDP grew 2.3% year-on-year in the first quarter, down from 2.6% in 4Q 2014 and 2.9% for the whole of 2014. Euler Hermes still forecasts full-year growth of 3% in 2015.

See other information about the European and global economies, in the full report.