Turkey’s economic confidence index rises to highest since March

Turkey’s benchmark index of economic confidence climbed to the highest level since March, continuing a revival in the wake of a peak in the COVID-19 pandemic.

The index of confidence rose to 82.2 points in July from 73.5 in June, the Turkish Statistical Institute said on Thursday. It was the third-straight month of increases.

Turkey’s government is seeking to revive the economy with cheap loans from state-run banks and by urging non-government banks to restructure consumer and corporate debt.

The index is made up of three sub-indexes, the results of which were previously announced. They included measures for confidence among consumers and industry, as well as the services, retail and construction sectors.