• Global Gas Analytics
  • Analysis & Forecasts

Middle East & Africa Economic overview

September 2018

Turkey’s worsening currency crisis will remain a significant headwind to investment in the country’s gas sector.

Turkey’s economy is feeling the pinch from its currency woes, and the situation is set to worsen before it gets better. Turkey’s GDP expanded by only 0.9% in Q2 2018 from the previous quarter, much lower than the 2.5% growth observed in Q2 2017. Meanwhile, credit rating agency S&P has forecast that Turkey will enter a recession in 2019.

The persistent weakness in the Turkish lira against the United States dollar...